The company said it has received firm commitments for the placement of 31.25-million shares, priced at 32c a share, with the shares to be placed in a single tranche under the company’s existing placement capacity.

“This exceedingly well-supported placement will allow Oklo to hit the ground running in the forthcoming 2020/21 field season while maintaining momentum on our maiden mineral resource estimate,” said MD Simon Taylor.

“We plan to accelerate the drill-out of the exciting 3-km-long SK1 trend, including exploring for additional high-grade feeder zones at depth, and resume the evaluation of other priority targets along the 12 km Dandoko gold corridor. Backed by a strong cash position of A$22.5-million, the company looks forward to delivering a steady flow of positive news in the months ahead.”