Adelong Gold Limited (ASX:ADG) has announced a significant strengthening of its cash reserves through the sale of its 25,000,000 ordinary shares in Sarama Resources Ltd (ASX: SRR) for $750,000. Adelong Gold Limited is an Australian mineral exploration company progressing towards gold production at its flagship Adelong Goldfield Project in NSW and advancing high-grade exploration at the recently acquired Apollo and Lauriston Gold Projects in Victoria. The company confirmed the sale at a price of $0.03 per share, adding to recent inflows from other sources.
Prior to the Sarama share sale, Adelong Gold received $455,000 (before costs) from the sale of a non-core property in Adelong, alongside approximately $3 million raised from professional and sophisticated investors during the June quarter. As of June 30, 2025, the company’s cash holdings were approximately $3.09 million, further augmented by the $750,000 Sarama transaction. The Sarama shares were initially acquired in December 2024 as part of a settlement with Cosmo Gold Ltd.
The company intends to allocate the increased funds toward accelerating exploration activities at its Apollo and Lauriston projects in Victoria. Adelong Gold retains its holding of 7,500,000 Sarama options. Recent diamond drilling at the Apollo Gold Project totalled 1,060.8 metres over four holes, targeting mineralisation continuity. The Lauriston Gold Project, located near Agnico Eagle’s Fosterville Mine, has shown high-grade gold and antimony potential.
Adelong Gold’s board has authorised the release of this announcement. Both the Apollo and Lauriston projects are central to Adelong Gold’s Victorian exploration strategy and are positioned within proven Victorian gold corridors.
