Sarama Resources Sells Australian Gold Assets to Riedel

Sarama Resources Ltd. has finalized the sale of its controlling interest in the Laverton Gold Projects, Western Australia, to Riedel Resources Limited. The transaction, valued at A$3.2 million in cash and shares, is part of Sarama's strategic plan to limit shareholder dilution while maintaining exploration prospects.

Following the deal, Sarama holds an initial ~32% stake in Riedel, potentially rising to ~44% upon achieving performance milestones. Riedel, now enriched with multiple projects, is well-equipped financially to explore its expanded portfolio across Western Australia and Arizona, USA.

Key personnel from Sarama, including Executive Chairman Andrew Dinning, have assumed roles in Riedel, with Mr. Dinning appointed as a Non-Executive Director. This transition aligns with Sarama’s capital management strategy, ensuring focused exploration of the Laverton projects.