Semafo drops merger talks

A proposed merger between Semafo (SMF-T) and High Desert Mineral Resources (HDR-V) has gone off the rails.

The parties were unable to reach an agreement with respect to the terms of their proposed business combination. No further negotiations are planned.

Semafo has a portfolio of 25 properties in West Africa. These are in Burkina Faso, Guinea, Ghana and Ivory Coast, and cover about 11,000 sq. km. Two of these properties are at the prefeasibility stage, with 700,000 oz. of drill-indicated resources.

High Desert holds a large number of properties and royalties in northern Nevada. About half of its acreage is held in joint ventures with major companies, including Barrick Gold and Newmont Mining.