Oklo Resources managing director supports West African gold strategy through on-market purchases
Oklo Resources Ltd (ASX:OKU) managing director Simon Taylor has demonstrated his support for the companys West African gold strategy by acquiring 200,000 shares in on-market transactions.
These transactions on October 29 and 31 valued at more than $26,000 take his overall holding to 5.46 million shares in indirect interests, which at today's price is valued at $764,400.
Oklos shares increased from 9.9 cents on October 18 to 14.5 cents on October 30 and today the company is trading at 14 cents.
Placement raises $6 million
In early September the company received firm commitments from sophisticated and institutional investors for a placement of more than 57 million shares at 10.5 cents each to raise gross proceeds of $6 million.
Strong demand for the placement was fielded from existing and new domestic as well as offshore investors, exceeding the targeted amount.
Proceeds are being used to continue exploration activities at the companys existing projects in Mali and for general working capital.
Drilling resumes
Late last month the company resumed drilling following the wet season at Dandoko Gold Project in the Kenieba Inlier of west Mali with a 10,000-metre program.
The companys board has approved the drilling program comprising aircore, reverse circulation (RC) and diamondRead More – Source
