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ASARA RESOURCES LIMITED — Capital/Financing Update 2020
Jul 1, 2020
64427_rns_2020-07-01_ec1e2454-7b33-454b-b377-bb6520ef76b6.pdf
Capital/Financing Update
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ASX/Media Announcement
2 July 2020
Cleansing Prospectus Closed
Golden Rim Resources Ltd (ASX: GMR, Golden Rim , Company ) advises that it has issued 100 shares under its Cleansing Prospectus dated 25 June 2020 and accordingly, the Prospectus is now closed.
Today the Company also issued further shares under its Director and Employee Remuneration Share Plan ( Plan ), which has previously been approved by shareholders. These shares were issued in lieu of payment of salary in cash, allowing the Company to preserve its cash reserves.
The Company also issued shares in lieu of payment of invoices in cash for drilling services, again as a means of preserving the Company’s cash reserves. These shares were issued under the Company’s Listing Rule 7.1 placement capacity.
These cash preserving measures are being undertaken as part of the Company’s response to the various impacts of the current COVID-19 pandemic.
-ENDS-
For further information, please contact:
Golden Rim Resources Craig Mackay
Managing Director Golden Rim Resources +61 3 9836 4146 [email protected]
This announcement was authorised by the Managing Director of Golden Rim Resources Ltd.
Golden Rim Resources Ltd I ABN 39 006 710 774 I Office 7, Level 2, 609 Canterbury Road, Surrey Hills, VIC 3127, Australia www.goldenrim.com.au I [email protected] I T + 61 3 9836 4146
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About Golden Rim Resources
West African gold explorer, Golden Rim Resources Limited (ASX: GMR), is focused on the discovery and development of gold projects in West Africa.
With a decade of experience working in Burkina Faso, the Company is well placed to turn discoveries into real value for shareholders.
The Kouri Gold Project, located in north-east Burkina Faso, contains over 1.4Moz in defined Mineral Resources, with significant upside potential to grow.
Kouri is traversed by a significant NE-trending fault splay that is connected to the major Markoye Fault system. This fault system controls a number of major gold deposits in Burkina Faso, including Kiaka (5.9 Moz gold), Bomboré (5.2 Moz gold), Essakane (7 Moz gold) and Sanbrado (2.8 Moz gold). The mineralised fault system extends into western Niger where the 2.5 Moz Samira Hill is located.
For more information: www.goldenrim.com.au
ASX Code: GMR Market Capitalisation: A$20.6m Issued Shares: 1,472m
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