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Resolute buys more of Oklo

Resolute Mining has spent about A$4 million increasing its stake in Mali gold explorer Oklo Resources.
Resolute buys more of Oklo Resolute buys more of Oklo Resolute buys more of Oklo Resolute buys more of Oklo Resolute buys more of Oklo

Oklo Resources drilling at Seko in Mali

The West Africa gold miner now holds nearly 10% of Oklo, up from a fraction under 8% previously.

Resolute's flagship Syama operation is in Mali.

As the firefinch flies, Oklo's emerging Dandoko/Seko prospect is about 300km northwest of Syama - with the firefinch Mali's national mascot.

In contrast, B2Gold's Fekola operation and IAMGOLD's advanced Boto pre-development asset are right on Dandoko/Seko's doorstep, albeit Boto is across the border in Senegal.

Oklo raised $10 million for its exploration late last month by issuing new shares priced at 32c each, with Resolute participating in the fundraising.

It's understood BlackRock is Oklo's major shareholder, with a stake in the ‘teens'.

Shares in Oklo were up 3.5% to 30.5c, capitalising the explorer at $126 million.