Cardinal Resources Limited (ASX / TSX: CDV) (
Cardinal or
Dongshan) (
attached for reference) which states that Dongshan intends to make an off-market takeover offer of A$1.20 per share to acquire all of the issued capital of Cardinal, subject to a number of conditions set out below (
Dongshan Indicative Offer).
It is important to note that, other than the Dongshan Indicative Offer, there has been no formal proposal or offer from Dongshan to acquire Cardinal shares that is currently capable of acceptance, nor is it certain that a formal proposal will ultimately be made.
The Dongshan Indicative Offer is subject to, amongst other matters:
Shandong Gold Acquires Control of Cardinal wboc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wboc.com Daily Mail and Mail on Sunday newspapers.
Figure 1 - Koumandara Project & Dabokuy 2 Property Location
ABOUT SARAMA RESOURCES LTD
Sarama Resources Ltd (TSXV:SWA) is a West African focused gold explorer and developer with substantial landholdings in south-west Burkina Faso. Sarama is focused on maximising the value of its strategic assets and advancing its key projects towards development.
Sarama s Sanutura Project, in which the Company holds a 100% interest, is principally located within the prolific Houndé Greenstone Belt in south-west Burkina Faso and is the exploration and development focus of the Company. The project hosts the Tankoro Deposit which has a mineral resource of
0.6Moz gold (indicated) and
(1) and also the Bondi Deposit
Sarama Resources Ltd.: Sarama Resources Re-Issued the Prospective Dabokuy 2 Exploration Permit in Burkina Faso
Sarama or the
Company ) (TSX-V:SWA) is pleased to announce that the Government of Burkina Faso has issued the Company a new Exploration Permit (the
Permit ) covering the prospective Dabokuy 2 Property (
Dabokuy 2 or the
Property ) in south-western Burkina Faso.
The new Permit is effectively a re-issue of the previously expired Dabokuy Exploration Permit and covers the same 56km² area.
The Property is part of the Company s 100%-owned
Koumandara Project
(6) (the
Project ), located within the Banfora Belt in south-western Burkina Faso (refer Figure 1). Based on previous exploration work by Sarama, the Project is considered prospective for high-grade gold mineralisation, yet is relatively unexplored.