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SEMAFO weighs US$17M Savary buy

West Africa-focused gold miner SEMAFO (TSX:SMF) is mulling the US$17 million (C$22.7 million) acquisition of Savary Gold (TSXV:SCA) that will allow it to consolidate a significant Burkina Faso land package,including Savary’s flagship Karankasso project.

SEMAFO weighs US$17M Savary buy SEMAFO weighs US$17M Savary buy SEMAFO weighs US$17M Savary buy SEMAFO weighs US$17M Savary buy SEMAFO weighs US$17M Savary buy

SEMAFO is pinning its organic growth hopes on the Karankasso-Kongolokoro project

The companies announced Monday they had signed a non-binding letter of intent through which SEMAFO would acquire all the outstanding Savary common shares by exchanging 0.