Post by
templetooth2 on Nov 20, 2020 1:32pm
Thanks, Retired. Here's a "tip" in return
Mercedesman alredy knows about this one but you might also be interested. It's an outright spec but even I bought some, despite the fact I hardly ever buy exploration companies anymore. No guarantees of course, but you don't often see the stars line up like this.
In the EDV-TGZ deal slide presentation is a map of West Africa showing a bunch of the projects and prospects in the area. Attached to a couple of them you'll see the name "Sarama", SWA on the Vancouver market (Yes, I'm dating myself). I first stumbled across Sarama a few years ago when I was looking into Semafo or Endeavour or both. Sarama and another penny dreadful both owned BIG tracts of moose pasture with a whiff of mineralization. The other company, whose name escapes me just at the moment, was acquired by Semafo. Sarama kind of soldiered on in well deserved obscurity, one of countless zombie companies that clutter Vancouver listings.
Prompted by the presentation slide, decided to glance at Sarama. When you're retired, you have the time to do these things. Quelle surprise!!! There's been a modest shake up of the Board, a very modest capital raise ($2 million or so) in the summer, a 3 for 1 rollback in October, plus the company has moved to Oz. A suburb of Perth, I believe.
The company is going to raise A$5-10 million coincident with listing in Australia. There's currently about 100 million fully diluted shares out. Proceeds earmarked for drilling. What could possibly go wrong?? You're welcome!
Comment by
mercedesman on Nov 20, 2020 9:31pm
The other Company was Savary. Purchased by Semafo in early 2019. The property is now in the hands of Endeavour who bought Semafo. Did well with Savary and put some of the proceeds into Sarama. Now waiting patiently for the next shoe to drop. MM