Big buy for Oklo boss

OKLO Resources managing director Simon Taylor has spent A$103,342 on shares in the gold explorer.
Big buy for Oklo boss Big buy for Oklo boss Big buy for Oklo boss Big buy for Oklo boss Big buy for Oklo boss

Oklo Resources MD and CEO Simon Taylor

He acquired 400,000 shares on-market at an average price of 25.8c.

Shares in the company dipped to a five-month low of 24 last week.

Taylor holds about 1.1% of Oklo, putting him just outside the top ten shareholders.

Major shareholders include BlackRock, Resolute Mining and UK fund Ruffer.

Canada's 1832 Asset Management sold 2.75 million shares in late August, but it still holds just under 5% of the company.

Investors are awaiting a maiden resource for Oklo's Dandoko project in Mali after several years of drilling.

Canaccord Genuity sees potential for an initial 730,000 ounces to 1 million ounces at about 2 grams per tonne gold.

Taylor is also on the board of tin explorer Stellar Resources and fellow West African explorer Chesser Resources, which he each holds about 1% of.

Shares in Oklo were up 7.1% this morning to 30c. Canaccord has a speculative buy rating and 50c price target.