Okapi Resources Directors Demonstrate Faith In Company Through On-market Purchases

Okapi Resources Ltd (ASX:OKR) (FRA:26O) directors have demonstrated their faith in the company’s new uranium strategy and its existing gold strategy with on-market purchases of shares and listed options.

Interim chairman and non-executive director Peretz Schapiro on July 12 acquired 150,000 shares worth $42,000 in an indirect interest, marking his first purchase in the company.

On July 14 company secretary Leonard Math purchased 102,298 shares in an indirect interest for almost $30,000, increasing his total number of securities held to 197,536.

Executive director David Nour on July 12 acquired 200,000 OKRO Listed Options exercisable at $0.30 each and expiring on March 31, 2023 with this transaction valued at  $15,803.

He now holds 3,495,060 Fully Paid Ordinary Shares along with 300,000 of the Listed Options in a direct interest.

Transformational acquisition

Okapi’s shares jumped as much as 55% on Monday after it signed a transformational binding agreement to acquire 100%of Tallahassee Resources, which holds a portfolio of large, high-grade uranium projects in the US.

Tallahassee has a 100% interest in mineral rights that cover about 7,500 acres in the Tallahassee Creek Uranium District of Colorado together with an option to acquire 100% of the Rattler Uranium Project.

The Tallahassee Uranium Project contains a JORC 2004 resource estimate of 26 million pounds of uranium (U3O8) at a grade of 540ppm U3O8, with exploration upside.

The Rattler Project includes the historical Rattlesnake open pit mine from which 285,000 tonnes of ore was mined between 1948 and 1954 at grades of 2,800ppm U3O8 and 10,000ppm vanadium (V2O5) for 1.6 million pounds of U3O8 and 4.5 million pounds of V2O5.

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