Australian Desert Metals acquires gold and lithium mine fields in Cote d’Ivoire

Desert Metals, a mining company listed in Australia, has acquired Côte d’Ivoire-based CDI Resources Limited (CDI) that controls seven gold and lithium projects in the West African country.
CDI, through its subsidiaries CDI Minerals and CDI Lithium, holds interests in seven gold and lithium projects.
The projects, 2,769km² in landmass coverage, comprise granted mineral permits and permit applications.
They include the Tengrela South gold project; the Adzope gold project and Agboville lithium project in south-eastern Côte d’Ivoire; the Vavoua and Vavoua West gold projects in central-west Côte d’Ivoire; and the Kounahiri and Kounahiri West gold projects in central Côte d’Ivoire.
“CDI has an impressive portfolio of highly prospective gold and lithium projects in Côte d’Ivoire, including, in particular, the Tengrela South project in the multi-million-ounce Syama-Boundiali greenstone belt”, said Desert Metal managing director Robert Stuart.
For the deal to go through, Desert has agreed to issue the shareholders of CDI a total of 75-million fully paid ordinary shares. The West African country has 8 operating gold mines held by major gold producers including Barrick Gold, Endeavour Mining and Perseus Mining, and is considered a premier destination for mining investment with significant untapped mineral potential.