PERTH (miningweekly.com) – Gold explorer Oklo Resources will raise A$10-million through a share placement to sophisticated and institutional investors, to accelerate exploration at its gold projects in Mali.
The ASX-listed junior told shareholders that the share placement, priced at 12.5c a share, would be conducted in two tranches, with the first tranche consisting of more than 40-million shares, and falling within the company’s existing capacity.
The second tranche of some 39.9-million shares would be subject to shareholder approval.
“Following the recent outstanding drill success at Diabarou, the company is now well positioned to accelerate evaluation of the openpit resource potential of this recent discovery and advance exploration over the numerous other compelling targets within its strategically located Dandoko, Mossala, Socaf and Yanfolila project areas,” sad Oklo MD Simon Taylor.