Augur Resources director shows confidence in company by increasing stake

Augur Resources (ASX: AUK) director Justin Werner has increased his interest in the company, buying up 100,000 shares.

The shares were purchased on market at a price of $0.165, for a total consideration of $16,500.

This purchase takes Werner’s interest in Augur to 930,000 directly held shares, 3.7 million indirectly held shares and 5 million unlisted options at $0.28, expiring on April 30, 2013.

The move shows confidence in the company, which earlier this month intersected significant mineralisation at the Randu Kuning porphyry prospect in Centra Java.

Assays included 95.5 metres at 0.74 grams per tonne (g/t) gold and 0.16% copper from just 41 metres, including  a high grade zone of 5 metres at 5.08g/t gold and 0.5% copper.

These results indicate the possibility of high grade targets within Randu Kuning, and point to bulk tonnage potential.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/22649/augur-resources-director-shows-confidence-in-company-by-increasing-stake-22649.html