Lia Darby, MD of Global Metals Exploration (ASX:GXN) and Ashley Hood have filed an Appendix 3Y to update the market about her share positions and their participation in the most recent Share Purchase Plan. According to the filing, Darby directly and indirectly added 15 million shares to her position, for a total consideration of A$45,000, while Ashley Hood added 5 million shares for a total amount of A$15,000.
It’s obviously good to see the management team investing in their own company, as the more skin they have in the game, the more they’ll take the company’s interests at heart. Global Metals is planning to drill 10,000 meters of air core drilling at Jutson Rocks this year, so we’re hoping for a turnaround.
Proto Resources (ASX:PRW) is drilling their Mt. Vetters project and is hoping to find high-grade nickel mineralization at depth. Meanwhile, the company also completed in excess of 1,100 meters of aircore drilling in 16 holes and one of those holes intersected an interesting 4 meters of 1.1g/t gold. You obviously cannot build a mine based on 4.36 gram-meters and the other holes came back with grades under 0.5g/t of gold, but it’s an encouraging intercept, and the company plans to drill 35 more holes to drill test the extent of this mineralization.
> GXN press release
> Proto Resources
Disclosure: Global Metals Exploration NL and Proto Resources & Investments Ltd. are sponsoring companies. Please see our disclaimer for current positions.
