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Oklo raises funds for Mali exploration

6th September 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior Oklo Resources will raise A$6-million through a share placement to fund exploration activities in Mali.

The company on Friday said that it had received firm commitments from sophisticated and institutional investors to subscribe for about 57.14-million shares at a price of 10.5c each.

The placement will be conducted under Oklo’s existing capacity, and will not require shareholder approval.

“The company is delighted with the strong interest shown in this capital rising from existing shareholders, a lot of whom participated on a pro-rata basis and new institutions that we welcome to our register,” said Oklo MD Simon Taylor.

“The company is now well placed to continue work over its highly prospective landholdings in west Mali backed by a cash position of around A$10-million.”

Edited by Creamer Media Reporter

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