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ASARA RESOURCES LIMITED — Capital/Financing Update 2012
Apr 10, 2012
64427_rns_2012-04-10_cff739f5-9ab0-4353-9caa-5730feacac7c.pdf
Capital/Financing Update
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ASX/Media Announcement
11 April 2012
Golden Rim Completes Deal with Riedel
Golden Rim Resources Ltd ( Golden Rim , ASX: GMR) today announced that it has completed the divestment to Riedel Resources Ltd ( Riedel , ASX: RIE).of rights to 5 of its permits in Burkina Faso.
In November 2011, the Company entered in an agreement with Riedel to divest the right to 100% of the Galgouli South, Gonsin, Keri, Moaga and Tagou exploration permits. Under the terms of the agreement, Golden Rim received a total consideration of USD$900,000 (USD25,000 option fee plus USD875,000 cash payment) and 12,500,000 fully paid ordinary shares in Riedel. The shares are escrowed for 12 months.
The divestment is part of Golden Rim’s strategy to continually acquire prospective holdings and to strategically divest others, ensuring a pipeline of high quality projects.
The divestment allows Golden Rim to focus on its core project areas in Burkina Faso. Golden Rim has 4 projects in Burkina Faso (Balogo, Sebba, Yako and Diapaga) and is currently undertaking a major drilling program in Burkina Faso.
-ENDS-
For further information, please contact:
Hayley Butcher Anna Staples Golden Rim Resources AMN Corporate Company Secretary +61 400 205 433 +61 8 9481 5758 [email protected]
About Golden Rim Resources Limited
Golden Rim Resources Ltd (ASX: GMR) is an exploration and mining company with a focus on copper and gold. The Company is active in West Africa, with gold resources and permits covering around 5,000km[2] in the highly prospective Birimian greenstone belts of Burkina Faso and Mali.
With experienced management and extensive local teams in the Company’s permanent offices in Mali and Burkina Faso, Golden Rim is able to move quickly and efficiently in order to maximise potential opportunities.
Golden Rim is pursuing an active program of drilling in Burkina Faso and Mali and is poised to deliver significant growth and value to shareholders.
Golden Rim Resources Ltd I ABN 39 006 710 774 I Level 2, 10 Outram Street, West Perth WA 6005, Australia I PO Box 378, West Perth WA 6872, Australia www.goldenrim.com.au I [email protected] I T + 61 8 9481 5758 I F + 61 8 9481 5759
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Figure 1. Location of Golden Rim’s permits in Burkina Faso.
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Further Company Information
E: [email protected] W:goldenrim.com.au
Capital Structure
Issued Shares: 413,306,231 Unlisted Options: 29,950,000
Major Shareholders
Royal Group, Abu Dhabi 13.18% Acorn Capital 7.03%
Share Registry
Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6153 AUSTRALIA
T: + 61 8 9315 2333 F: + 61 8 9315 2233 E: [email protected] W: securitytransfer.com.au
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