Silver Swan Group substantial shareholder Copulos Group increases stake to 17.73%

Silver Swan Group (ASX: SWN) substantial shareholder Copulos Group of Companies has increased its interest in Silver Swan.

Copulos increased its holding by 2.68 million shares through Eyeon No 2, which purchased the shares on market for about A$0.064. The total consideration for the shares was A$172,107.

This acquisition takes Copulos’ interest in Silver Swan to 17.73% from 15.69%.

Copulos is a private investment company with interests in fast food, healthcare, property development and mining.

Silver Swan has been making good progress in recent months at the Stakewell Gold Project and Quinns Volcanogenic Massive Sulphide (VMS) Project, both located south of Meekatharra in Western Australia.

Last month, Silver Swan intersected VMS mineralisation at the Flinders prospect at Quinns, with a highlight intersection of 10 metres at 4.7% zinc from 247 metres, including 6 metres at 7% zinc and 4 metres at 0.5% copper.

The company also delivered high grade gold intersections from exploration at Stakewell in December.

Significant intersections at Stakewell included 4 metres at 6.3 grams per tonne gold from 28 metres.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24254/silver-swan-group-substantial-shareholder-copulos-group-increases-stake-to-1773-24254.html