Uranium player Okapi opens doors to US investment with real-time clearing of OTC stock
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Okapi Resources is emerging as a major uranium player in the United States, and it’s taking moves to bring greater access to the yellowcake upside for stateside investors.
Okapi (ASX:OKR) has now secured DTC (Depository Trust and Clearing Corporation) approval to allow real-time electronic clearing and settlement of its over the counter shares in the States.
That will simplify trading and improve liquidity for investors in North America and globally, giving US investors more convenient access to Okapi shares as uranium prices rise in response to rapidly improving market conditions for the commodity.
In effect US investors will be able to trade in ordinary Okapi shares in real time and in US dollars, as if they were units of ASX traded stock.
“We are excited that we have secured DTC electronic trading, allowing Okapi shares to be traded in USD for the convenience of our existing and new North American shareholders,” Okapi MD Andrew Ferrier said.
“This will simplify trading and enhance liquidity with a wider pool of investors. This particularly makes sense for Okapi which is focused on developing uranium assets in North America.”
The scale of Okapi’s investment in the US uranium market is expanding at pace.
Last week it announced the acquisition of 51% of the high grade Hansen uranium deposit, taking the total inventory of its Tallahassee uranium project to 49.8Mlbs.
As sentiment in the nuclear energy market has turned positive, so have uranium prices, quoted by Numerco today at US$63.50/lb.
That’s more than three times above cyclical lows of US$18/lb seen around five years ago, painting a much brighter outlook for miners and explorers.
This article was developed in collaboration with Okapi Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.