Centrex Metals (ASX: CXM) non-executive director James Hazel as bumped up his stake in the company by 50,000 shares for a consideration of A$14,801.52, providing an average entry price of $0.296 per share.
Hazel now holds 200,000 shares, valuing his shareholding at around $58,000 at the last traded share price of $0.29.
Earlier this month Centrex Metals and joint venture partner WISCO decided on the 454.4 million tonne Fusion magnetite project just west of Tumby Bay on South Australia’s Eyre Peninsula as their preferred mining project for first development.
Fusion is a project comprising four deposits – Koppio, Brennand, Kapperna and Iron Mount. It has an Inferred JORC Resource of 454.4 million tonnes at 23.1% iron.
The project is located just 40 kilometres from the proposed Port Spencer deep water export facility that Centrex is also developing, with transport from mine to port to occur via a low impact slurry pipeline.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/22515/centrex-metals-non-executive-director-tops-up-shareholding--22515.html
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