Sarama Rereported the successful sale of the majority shares of its Australian gold assets, Laverton Gold Projects, to Riedel Re
- Sarama Resources sold its majority shares in the Australian Laverton Gold Projects to Riedel Resources, maintaining exposure through shareholding.
- Riedel gains access to three gold properties and complements its existing Kingman Gold Project in Arizona.
- The Laverton Gold Projects include the Cosmo Gold Project and Mt Venn Gold Project, both offering strong exploration potential in Western Australia.
- Sarama’s Sanutura Project in Burkina Faso was seized by the government as part of a national drive for economic sovereignty and mine ownership restructuring.
This acquisition provides Riedel with exposure to three exploration-stage gold properties featuring drill-ready prospects across two Tier 1 jurisdictions, thereby complementing the company’s existing high-grade Kingman Gold Project in Arizona.
“We are very pleased to complete the sale of our Western Australian assets to Riedel while retaining significant exposure to their future success through our shareholding in the company.
We believe the combined portfolio has considerable exploration potential and look forward to seeing these assets advanced under a dedicated and well- funded team,” Sarama’s Executive Chairman, Andrew Dinning, stated.
“The completion of this transaction is an important part of Sarama’s strategy to minimise further dilution of the Company’s Claim against the Government of Burkina Faso, while ensuring the Laverton projects receive the dedicated focus and funding they require to unlock their full potential,” he added.
The Laverton Gold Projects constitute two belt-scale projects, the Cosmo Gold Project and Mt Venn Gold Project, covering approximately 1000 kilometers in the Laverton Gold District in Western Australia, as seen on the company’s website.
The Cosmo and Mt Venn Projects present an exceptional exploration opportunity for the company, as they are strategically situated within a gold-producing region and encompass under-explored greenstone belts that span a total strike length exceeding 100 km.
With nickel-cobalt linked to an ultramafic unit close to the west greenstone edge, the Cosmo Project’s main potential is for gold mineralization.
Additionally, the Mt Venn Gold Project spans 42 kilometres and covers a large portion of the Jutson Rocks Greenstone Belt, a large and prospective system with gold discovered in the 1890s.
Sarama actively explored gold in West Africa between 2010 and 2023, with significant success recorded in finding and developing the multi-million-ounce Sanutura Project in southwest Burkina Faso.
The Sanutura Project was in the early phases of mining development when it was taken over by the Burkina Faso government in August 2023.
At the time, Burkina Faso was a few months removed from a successful coup, orchestrated by the country’s current Junta leader, Captain Ibrahim Traore.
Since then, the West African country, one of the continent’s leading gold producers, has spent the past three years restructuring mining ownership in what authorities describe as a drive for “economic sovereignty.”
According to specialty portal Mines Actu Burkina, six of Burkina Faso’s 15 operating industrial gold mines will be majority held by Burkinabe enterprises by the end of 2025.
Three of these mines are now directly managed by the state
Burkina Faso’s push for economic sovereignty came attached with widespread anti-West sentiments within its borders, making the seizure of foreign mining assets popularly received.
Sarama Re’s ambition to control all of its re
At the time, Sarama Reand Quarries that the application for its fully-controlled Tankoro 2 Exploration Permit, which had been authorized nearly two years prior, had been retrospectively denied
The permit encompassed the Tankoro Deposit, which contains a multi-million-ounce gold reect, a large-scale gold development located within the Houndé Greenstone belt in southwestern Burkina Faso
In reaction, Sarama formally initiated international arbitration in December 2024.
Sarama submitted its written Memorial to the International Center for Settlement of Investment Disputes in October 2025, outlining the company’s claim against Burkina Faso and requesting US$242 million in damages plus interest.
