JOHANNESBURG (miningweekly.com) – TSX-V-listed Sarama Resources has increased its previously announced private placement from C$3-million to C$4-million, owing to strong support from existing shareholders and new investors.
The company has increased its offering to up to 40-million common shares at a price of C$0.10 a common share to raise proceeds to fund exploration activities in Burkina Faso and to meet the company’s working capital requirements.
Sarama said in a statement on Friday that it intends to accelerate exploration at its projects, including the ThreeBee and Koumandara projects, which the company believes has significant exploration potential.