Sign up Australia
Proactive Investors - Run By Investors For Investors

Oklo Resources raises $15 million in oversubscribed placement to progress Mali gold projects

Oklo’s Dandoko project in Mali is close to some of Africa’s largest mining deposits.
Picture of cash
The issue price of 38 cents per share represented a marginal discount to the last traded price of 39.5 cents

Oklo Resources Limited (ASX:OKU) is raising $15 million on the back of commitments from sophisticated and institutional investors to subscribe for a placement of about 39.5 million shares.

The issue price of 38 cents is a good indication of demand for the stock given that it only represents a marginal discount to the last traded price of 39.5 cents.

Placement oversubscribed

The raising was oversubscribed with strong demand from existing shareholders and new institutional investors.

The proceeds from the placement will primarily be used to accelerate exploration activities over the company’s Mali gold projects and for general working capital purposes.

Oklo seeks out multi-million-ounce gold deposit

Oklo’s Dandoko project in Mali is close to some of Africa’s largest mining deposits.

READ: Oklo Resources stepping up a gear in 2018 as it sets its sights on defining gold resource

Managing director Simon Taylor recently said: “Oklo’s prime strategy is to discover and develop the next multi-million-ounce gold deposit within the company’s highly prospective and relatively underexplored project portfolio in Mali.”

Limited early-stage drilling has intersected broad high-grade mineralisation such as 79 metres at 2.17 g/t gold and 42 metres at 6.14 g/t gold.

View full OKU profile View Profile

Oklo Resources Ltd Timeline

Related Articles

lithium rock
September 19 2018
Preliminary feasibility study (PFS) completed, definitive feasibility study (DFS) scheduled for delivery by the end of 2018.
Montero Mining already has an attractive lithium portfolio in Namibia
Picture of Emmerson's managing director and mining team
January 28 2018
Deposits in the Macquarie Volcanic Arc are often part of much larger systems.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use