Proactive Investors - Run By Investors For Investors

Oklo Resources sees Resolute Mining increase its substantial shareholding

African gold producer Resolute Mining has increased its stake in Oklo from 5% to 8.8%.
Picture of cash
Resolute Mining accounted for 12.1 million shares of the 39.4 million placed

Oklo Resources Ltd (ASX:OKU) has received a substantial vote of confidence from leading African gold producer Resolute Mining Limited (ASX:RSG).

Developer of the Dandoko Gold Project in Mali, Oklo completed a $15 million placement just over a week ago.

The placement was oversubscribed and the issue price was 38 cents.

This indicates heavy demand for the stock given that it was only a slight discount to the last traded price of 39.5 cents.

Resolute Mining takes large chunk

Resolute Mining held a 5% stake in Oklo prior to the placement.

However, the company now holds a much larger position having accounted for 12.1 million shares of the 39.4 million placed.

Resolute also buying on market

Since it last filed a substantial shareholder notice, Resolute’s shareholding has grown from about 12 million shares to 30.4 million.

Resolute has been buying stock on market, most recently in February, when Oklo’s shares were trading around the 40-cent mark.

It now has a stake of about 8.8%.

View full OKU profile View Profile

Oklo Resources Ltd Timeline

Related Articles

Out in the field in WA
October 31 2018
The company expects to make imminent works approval and licence applications to the WA Government.
San Jose project in Spain
January 29 2019
A scoping study demonstrated the company could produce battery-grade lithium hydroxide from Spanish project.
Project map showing two JORC resources
January 22 2019
The project has upside potential for larger porphyry copper‐gold discoveries.

© Proactive Investors 2019

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