Oklo Resources Ltd, an Australian mining company, received the firm commitment from experienced and professional investors to raise a total of USD 3 million which will be used to advance its gold projects in Mali.

Some 40 million ordinary shares will be sold, in two stages, at the price of USD 0.075 per share with Taylor Collison as lead arranger, the company listed on ASX explained on 15 October.

The net income from this investment will be used to advance the assessment works on three exciting gold projects the company has in Mali and to meet the general needs in working capital, we learn.

Oklo Resources hopes to start, in the coming weeks, the reversed circulation drilling program in the Dandoko, Yanfolila and Socaf projects which are at advanced stages of their development.

Simon Taylor, General Manager of the company, was happy of the firm response from investors, stressing that Oklo is now well positioned with a working capital of over USD 3.3 million and could soon launch a drilling programme covering over 13,000 m on the three projects.

Oklo Resources has, in the South and West of Mali, a good portfolio of eight gold projects covering a total of 1,389 km2, including six bought from Compass Gold Corporation, a company listed on TSXV.