Nyota Minerals (AIM & ASX: NYO) said its chief executive Melissa Sturgess and finance director Mike Langoulant bought further shares in the company.
Sturgess purchased a million shares for £0.1425 per share to take her stake up to 7.8 million shares, while Langoulant bought 220,000 shares for £0.235 per share to increase his interest to 3.49 million shares.
The share purchase comes amid a drilling programme at the Nyota’s flagship Tulu Kapi gold project in Ethiopia, which the company said was currently on track to yield a JORC compliant resource upgrade during Q2 2010. According to Nyota, the Tulu Kapi ore body is larger than first anticipated, and the second batch of assays, covering 16 of the 35 drill holes completed to date, are expected shortly.
The programme has so far identified extensions of the ore body as well as new mineralised zones underlying previously discovered Zones 1 and 2.
Nyota is looking to increase the current JORC resource at Tulu Kapi of 0.69 Moz (million ounces) of gold to 1 Moz, and to upgrade parts of the resource into the measured and indicated categories.
Earlier this month, Nyota told investors that the World Bank, through its International Finance Corporation (IFC) arm, is set to invest £3.43m in the company for a 10% equity stake.
http://www.proactiveinvestors.co.uk/companies/news/15994/nyota-minerals-ceo-and-fd-buy-shares--15994.html
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