Oklo Resources Ltd’s (ASX:OKU) substantial shareholder and fellow West African gold company Resolute Mining Ltd (ASX:RSG) has increased its holding to 9.79% from 7.96%.
Resolute increased its stake through three recent transactions – on-market purchases of more than $1.557 million and of $1.5 million as well as placement participation.
In the placement, the gold producer purchased more than 2.487 million shares valued in excess of $796,000, and Resolute now holds more than 49 million shares.
Commitments to raise $10 million
Oklo recently received firm commitments from sophisticated and institutional investors to subscribe for a placement of 31.25 million shares to raise $10 million.
Strong demand for the placement was received from existing and new domestic and offshore institutions with net proceeds to be used to continue exploration activities over existing gold projects in West Mali.
Canaccord Genuity (Australia) Limited acted as lead manager with Taylor Collison Limited and Bridge Street Capital Partners Pty Ltd acting as co-managers to the placement.