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The latest update is out from Riedel Resources Limited ( (AU:RIE) ).
Sarama Resources has agreed to sell its Cosmo and Mt Venn gold projects in Western Australia to Riedel Resources for A$4.6 million in cash and shares, as part of a broader capital management strategy to retain exploration upside while limiting dilution. The deal will see Sarama emerge with an initial stake of about 32% in a recapitalised, multi-project Riedel, potentially rising to roughly 44% if performance milestones are met, while Sarama executives take key board and management roles and the company adds new copper-gold tenure in New South Wales.
The company also reported progress on its US$242 million arbitration claim over the expropriated Tankoro 2 gold permit in Burkina Faso, with written submissions exchanged, a procedural timetable agreed and a merits hearing now scheduled for late February 2027. This dual-track strategy is intended to preserve shareholder exposure to a potentially significant arbitration award while maintaining operational momentum across an expanded exploration portfolio in Australia and North America.
More about Riedel Resources Limited
Sarama Resources is a dual-listed gold explorer on the TSX-V and ASX, focused on advancing gold and copper-gold exploration assets in Tier 1 jurisdictions such as Western Australia, Arizona in the U.S., Burkina Faso and New South Wales. The company’s portfolio has historically centred on multi-million-ounce gold developments, while it now seeks to add copper-gold optionality alongside an active international arbitration process.
Average Trading Volume: 495,398
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$6.21M
For an in-depth examination of RIE stock, go to TipRanks’ Overview page.