Sarama Resources Ltd V.SWA

Bantou

[templetooth2]

Answering my own question, from Endeavour's website:

The Bantou Project is part of the Dynikongolo permit which is located along the prolific Hound Greenstone Belt that hosts both the Mana and Hound mines. The project was acquired in July 2020 as part of the SEMAFO acquisition.

Bantou currently consists of eight mineralized zones with diverse mineralization styles and grades. The project is host to an Inferred Resource comprised of three main areas, the majority of the tonnes and ounces re centred on the Bantou and Bantou Nord Zones. The Bantou Nord Zone was discovered in 2019 and totals 1.1Moz of pit-constrained Inferred resources.

An exploration programme of $7 million is scheduled for 2021.

[ABDPhil]

Even if anything is possible, your scenario with Endeavor is improbable. The Sarama project is not very advanced and it will take years of effort to confirm sufficient reserves, if any. I think it is premeditated to develop such a scenario at this time.   Regarding the budget of $ 7,000,000 established by Endeavor for the Bantu permit (I have not verified), it is a minimum budget which

[templetooth2]

I'm just trying to establish, in my own mind, what's a reasonable value for Sarama when it's producing news - as opposed to its current state of affairs of borderline dead. You might be right about it taking years for Sarama to de-risk their project. I have no idea what the drill density is, or what volume of drilling would be required to establish a million oz proven. But it's my

[ABDPhil]

It’s not easy to evaluate a gold exploration company, and it’s even more so when the flagship project is in its early stages. To develop a license with the objective of exploiting or selling it for that purpose, it takes a lot of time and a lot of money. Sometimes good results are not enough because funding can continually dilute shareholders. Honestly, I am unable to give you a fair value for