Alma Metals (ASX:ALM) non-executive director Valentine Chitalu continues to grow his shareholding in the Australian copper explorer.
Chitalu spent a further $13,500 to acquire 1.5 million additional shares on market.
This comes just a week after he picked up 2.75 million shares on market for $24,725.25.
Chitalu now owns 11.5 million shares and 1.25 million options, exercisable at $0.04 before 19 September 2024.
Alma Metals’ main focus is its Briggs Copper Project in Queensland, where drilling is underway to evaluate the intrusive contact on the southwest side of the Briggs Central resource.
The company is targeting an upgrade in resource confidence to support a Scoping Study later this year.
Alma can earn up to a 70% stake in the Briggs Project, which is a porphyry copper-molybdenum project hosting an inferred resource of 415 million tonnes @ 0.25% copper.
The company, which has a market capitalisation of just under $13 million, says Briggs is one of Australia’s top 10 largest undeveloped copper projects, with “significant upside” for tonnage and grade.
Initial results from the current drilling campaign are expected in August.
Alma also owns the East Kimberley Copper Project located northwest of Wyndham in Western Australia.
The Roundup
- Valentine Chitalu spent $13,500 to acquire a further 1.5 million additional shares in Alma Metals
- He also purchased 2.75 million shares for $24,725.25 last week
- Chitalu now owns 11.5 million shares and 1.25 million options
Write to Angela East at Mining.com.au
Images: Alma Metals
