West African gold explorer Golden Rim Resources Ltd (ASX: GMR; Golden Rim or Company - https://www.commodity-tv.com/ondemand/companies/profil/golden-rim-resources-ltd/) advises the following update regarding the sale of its Burkina Faso assets.
The buyer, BAOR SARL, has advised that its financiers have withdrawn from the sale and that it is currently unable to fulfil its obligations. The Company intends to formally terminate the Share Sale Agreement and will continue to seek opportunities for this project, which it regards as non-core.
Golden Rim’s focus shifted to its flagship Kada Gold Project in the Siguiri Basin of Guinea in 2020. Funds from the sale of Kouri would have enabled more rapid exploration progress at Kada however the Company remains committed to bringing exploration success at this exciting project.
Golden Rim Resources Ltd
ABN 39 006 710 774
+61 3 8677 0829
Swiss Resource Capital AG
This announcement was authorised for release by the Board of Golden Rim Resources Ltd.