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Oklo Resources Ltd swells cash position from in-the-money options

Oklo is well-funded to continue aggressive exploration campaigns.

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More assays are pending

Oklo Resources Ltd (ASX:OKU) shareholders made instant paper gains as 99.99% of the $0.125 30 June 2017 in-the-money options were snapped up.

Oklo last traded at $0.235, providing an 88% gain. Shares are expected to be issued later this week.

The options provided the company with almost $3 million, and in addition to the recent $8.7 million share placement, Oklo's cash position has swelled to $14.5 million.

Oklo is therefore well placed to continue aggressive exploration campaigns over its gold projects in Mali, west Africa.


Exploration news pending

Simon Taylor, managing director, commented: "We eagerly await assay results from the recently completed diamond and air-core drilling programs at Seko, that mark the conclusion of Oklo’s very successful 2017 drilling campaign of over 100,000 metres prior to the onset of the wet season."


Seko background

Currently, the Seko gold trends consist of five strong auger gold anomalies of up to 2.0 kilometres in length, with a combined strike length of over 7 kilometres.

Significant intersections include: 15 metres at 3.02 g/t gold, 18 metres at 2.01 g/t gold, 54 metres at 1.37 g/t gold and 24 metres at 2.02 g/t gold.

Seko lies within the Dandoko Project, which is located within the Kenieba Inlier of western Mali.

Dandoko is positioned 30 kilometres to the east of B2Gold’s 5.15 million ounce Fekola Project and 50 kilometres to the south-southeast of Randgold’s 12.5 million ounce Loulo Mine.

Quick facts: Oklo Resources Ltd

Price: 0.295 AUD

ASX:OKU
Market: ASX
Market Cap: $139.33 m
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Oklo Resources has 'pipeline of projects' and 'soon to have 7 drill rigs going'

Oklo Resources Ltd (ASX:OKU) managing director and chief executive Simon Taylor tells Proactive Investors that the Mali-focused gold explorer and developer will have 7 rigs spinning on two of its projects by next week. Plenty of news flow is expected in the short term on the Dandoko...

on 12/3/19

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