Asara Resources (ASX:AS1) completed the sale of its non-core Kouri and Babonga gold projects in Burkina Faso to BIC West Africa for $2.2 million, according to a Thursday Australian bourse filing.
The company added that the final condition of getting the Burkina Faso Minister of Mines' approval for transferring its unit, Golden Rim Resources Burkina, has been waived. It received the final $550,000 from BIC as part of the completion.
The proceeds will be used to fund the company's Kada gold project in Guinea, the filing said.
The company's shares rose almost 10% in recent Thursday trade, hitting a 52-week high.
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