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ASARA RESOURCES LIMITED — Capital/Financing Update 2013
Feb 21, 2013
64427_rns_2013-02-21_30a519a8-c45f-4cd8-8353-f1f2f48bffe6.pdf
Capital/Financing Update
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ASX/Media Announcement 22 February 2013
Mali Assets Divested for US$4.4 million
Golden Rim Resources Ltd ( Golden Rim ; ASX: GMR) today announced that it has signed an agreement to sell its Mali assets, including its entire exploration permit portfolio, to Sandeep Gold Resources SARL ( Sandeep Gold ) for US$4.4 million in cash.
The sale is subject to Sandeep Gold conducting due diligence on the validity of the permits within two weeks. The permit portfolio includes Golden Rim’s Sepola Project in western Mali, and the Faraba Project in southern Mali.
Cash payments are due in these stages throughout 2013. The first payment of US$1.1 million is due on or before 5 April 2013, the second payment of US$1.1 million is due on or before 3 June 2013, and the third and final payment is due on or before 31 December 2013. Golden Rim will then distribute a portion of the sale proceeds to local partners who hold minority interests in certain permits. Following these payments, Golden Rim’s total consideration to be received under the agreement will be US$3,975,000.
Golden Rim’s Managing Director, Craig Mackay said ‘’These cash proceeds together with the funds currently being raised through placement and rights issue will provide the Company with additional funding to conduct aggressive exploration programs on our high priority targets.”
The completion of the sale will see Golden Rim’s withdrawal from operations in Mali and will allow the Company to focus on its highly prospective gold projects in Burkina Faso. The divestment aligns with Golden Rim’s strategy of acquiring, assessing and strategically deciding on whether to divest or retain project interests.
-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]
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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Further Company Information
E: [email protected] W:goldenrim.com.au
Capital Structure
Issued Shares: 458,706,231 Unlisted Options: 33,950,000
Major Shareholders
Royal Group, Abu Dhabi 12.4% Acorn Capital 7.6%
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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