- Oklo Resources (OKU) has requested a trading halt pending a capital raising announcement
- The company will remain in the halt until July 27 or when the announcement is released, whichever occurs first
- In its recently released June quarterly report, Oklo announced that it had completed its resource definition drilling program at the Seko prospect largely ahead of schedule
- Results from this drill peaked at 41 grammes per tonne gold
- Oklo has now begun planning for the 2021 drilling program which is expected to begin in late September or early October
- Shares in Oklo last traded for 35.5 cents each on July 22
Oklo Resources (OKU) has requested a trading halt pending a capital raising announcement.
The company will remain in the halt until July 27 or when the announcement is released, whichever occurs first.
In its recently released June quarterly report, Oklo announced it had completed its resource definition drilling program at the Seko prospect largely ahead of schedule.
Significant results from Seko include four metres at 11.45g/t gold from seven metres including one metre at 41g/t gold from eight metres, and 16 metres at 4.34g/t gold from 122 metres including one metre at 30.30g/t gold from 123 metres.
Oklo has now begun planning for the 2021 drilling program which is expected to begin in late September or early October.
Additionally, the company revealed that its business, staff and contractors were minimally impacted by COVID-19 and work continued within Mali as planned.
However, to ensure the safety of its employees, a number of safety measures were put in place, such as temperature monitoring, social distancing, and the minimisation of staff in the office.
The company remains well funded, with a cash balance of roughly $12.7 million as of June 30.
Oklo last entered a trading halt in February regarding a $12.5 million placement and stated it would use the money to continue exploration over its existing projects in West Mali.
Shares in Oklo last traded for 35.5 cents each on July 22.