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Oklo Resources in trading halt ahead of capital raising news

The company recently elected to acquire 100% of the Kossaya project under an agreement with Sogetrac Sarlu and the Sari project with Ecosud Sarl.

Oklo Resources Ltd - Oklo Resources in trading halt ahead of capital raising
The West African-focused gold explorer has 11 gold prospects covering 1,393 square kilometres

Oklo Resources Ltd (ASX:OKU) has been granted a trading halt by the ASX ahead of a capital raising announcement.

The trading halt will remain in place until the start of normal trading on Monday, July 27, or when an announcement is released to the market, whichever occurs earliest.

Oklo's shares last traded at 35 cents and since the close on June 12 have risen from 25.3 cents to a new two-year high of 37.5 cents earlier this week.

Ownership of strategic gold position

Oklo recently exercised two options held over the Kossaya and Sari projects, increasing its ownership from 65% to 100% and becoming one of the largest landowners in highly gold prospective west Mali.

Both projects cover 84 square kilometres and are within 5 kilometres of the company’s flagship Dandoko Gold Project.

The Birimian greenstones within the projects are interpreted to cover comparable geological settings to the nearby, multi-million-ounce gold mining operations and recent discoveries.

These include Fekola (7.1 million ounces), Loulo (12.5 million ounces), Gounkoto (5.4 million ounces), Yatela (3 million ounces), Sadiola (15 million ounces) and Sabodala (10 million ounces).

Quick facts: Oklo Resources Ltd

Price: 0.2 AUD

Market: ASX
Market Cap: $100.81 m

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