Golden Rim Resources Ltd (ASX:GMR)’s Craig Mackay speaks with Proactive’s Andrew Scott about the binding sale of its Burkina Faso projects, which has netted the company US$15.5 million (A$22.3 million) – more than its current market cap. Mackay explains how the divestment was the right decision for GMR as it looks to accelerate its progress at the 930,000-ounce (over 1km) Kada Project in Guinea, where just last week it delivered exceptional results from RC drilling. The company is looking at a further 4km of bedrock mineralisation outside the resource. The non-core Burkina Faso projects provide the buyer BAOR SARL with an opportunity to develop a resource base of 2 million ounces of gold, however this was not part of GMR’s future plans. The company will now fast track aggressive drilling and exploration to build its Kada resource base without further dilutionary capital raising for the foreseeable future. The GMR MD also explains his successful trip to the recent PDAC convention and the achievements that came from that.
Golden Rim to sell non-core assets for US$15 million and accelerate work at Kada
