ASX-listed explorer Oklo Resources has announced a firm commitment from investors to the tune of $15 million for its gold exploration acceleration plans in Mali, West Africa.
The funds, made up of almost 39.5 million fully paid ordinary shares at 38 cents per share, will also be used to provide additional working capital for the projects.
Oklo operates several greenstone belt projects in the landlocked country, including the Dandoko, Moussala and Socaf projects in West Mali, and the Yanfolila project in South Mail. The company’s flagship Dandoko project includes the Seko prospect, first discovered in February 2017.
Oklo managing director Simon Taylor was pleased with the results, saying that the capital raising placed Oklo in a strong position, and would allow for further aggressive exploration at Seko in particular.
“This capital raising places Oklo in a strong financial position allowing us to continue our aggressive drilling activities at the Seko discovery and other priority targets along the 12km Dandoko gold corridor,” he said.
“Once again we extend our thanks to existing shareholders for their ongoing support and welcome the new institutional investors to our register in what is shaping up to be a transformational period for the company.”