Gunson Resources’ (ASX: GUN) substantial shareholder John Tilbrook has purchased around 2.65 million shares for a consideration of about A$427,000, providing an average entry price of $0.16 per share.
The purchase increases Tilbrook's stake to 7.98% and the number of shares held to about 16.7 million.
Interestingly, Gunson Resources’ Coburn zircon project in Western Australia has caught the eye of the international investors, with the company executing a non-binding term sheet with an as yet undisclosed major East Asian industrial group.
The group is no doubt interested in the project due to revised project returns, with financial modelling using updated TZMI price forecasts revealing a NPV (8%) of $223.7 million and an IRR of 28.3% on a pre-tax and pre-financing basis, at the current 5% State royalty rate.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/22525/gunson-resources-substantial-shareholder-ups-stake-to-798--22525.html
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