viewOklo Resources Ltd

Oklo Resources’ chairman shows faith in the company with on-market purchases

Late last month the company resumed drilling following the wet season at Dandoko Gold Project in the Kenieba Inlier of west Mali with a 10,000-metre program.

Oklo Resources Ltd - Oklo Resources’ non-executive chairman shows faith in the company with purchase of shares
The company is primarily focused on the Witwatersrand Basin Project in South Africa

Oklo Resources Ltd’s (ASX:OKU) non-executive chairman Mark Connelly has shown confidence in the company with the purchase of 150,000 ordinary fully paid shares.

These on-market purchases on November 1 and 4 in a direct interest were valued at a total of $21,000 and were the chairman's first in the West African gold explorer.

They follow the support demonstrated by managing director Simon Taylor on October 29 and 31 with transactions valuing more than $26,000 taking his overall holding to 5.46 million shares in indirect interests.

Strong demand for $6 million placement

In early September Oklo received firm commitments from sophisticated and institutional investors for a placement of more than 57 million shares at 10.5 cents each to raise gross proceeds of $6 million.

Strong demand for the placement was fielded from existing and new domestic as well as offshore investors, exceeding the targeted amount.

Proceeds are being used to continue exploration at the company’s existing projects in Mali and for general working capital.

Oklo's shares last traded at 14.5 cents.

Quick facts: Oklo Resources Ltd

Price: 0.325 AUD

Market: ASX
Market Cap: $163.66 m

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on 12/3/19

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