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Sarama Resources Ltd (ASX:SRR)

ALERT: Price-sensitive ASX Announcement for SRR
Current share price for SRR : $0.023 -0.006 (-20.69%)+
Announcement
Release
13 Aug 2026 7:25PM
Price at Release
$0.029
Full Release
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Summary
Sarama Resources Ltd's quarterly activities report for Q2 2026 highlights a successful capital raising and strategic agreements, including a significant equity stake through the sale of its Cosmo and Mt Venn Projects. Exploration efforts continued in Australia with pending drilling operations, while arbitration proceedings advanced against the Burkina Faso government over a revoked permit. The company reported a reduced net loss compared to the previous year, despite decreased exploration expenditure due to regulatory delays.
Key Points
  • Sarama Resources Ltd raised A$1.5 million through a well-supported capital raising.
  • The company entered a Share Sale Agreement with Riedel Resources Ltd, gaining significant equity interest through the sale of Cosmo and Mt Venn Projects.
  • Exploration activities continued at Cosmo and Mt Venn with planned reconnaissance drilling and historical data reviews.
  • Arbitration proceedings are ongoing against the Government of Burkina Faso concerning the withdrawal of an exploration permit.
  • The company reported a net loss of $836,651 for the six months ended 30 June 2026, an improvement from the previous year's loss.
  • Exploration expenditure decreased due to permitting delays at the Cosmo project.
  • Salaries and fair value gains on warrants were highlighted as significant financial metrics for the period.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.