Horizonte Minerals' chief executive Martin ups stake in firm
The chief executive of Brazil-focused Horizonte Minerals (LON:HZM) has upped his stake in the firm, it emerged today.
Jeremy Martin has today bought 125,000 shares in the firm at 12 pence per share at a cost of £15,000, it said.
He now holds 618,571 shares, or 0.22 percent of the firm's share capital. Previously he held around 0.17 percent.
Earlier this month, Horizonte Minerals unveiled another batch of high grade drill results from the Araguaia nickel project in Brazil, where it has completed 13,084 metres of infill drilling in 529 holes as part of the current work programme.
Once drilling is complete the company hopes to upgrade its current 76.6 million tonne NI43-101 mineral resource by the end of this year.
The results came from the Pequizeiro and Baião target. The best result from Pequizeiro was a 9.1 metre intersection that had a nickel grade of 2.74 per cent. Meanwhile the best results from Baião had lengths between 15.1 to 19.9 metres with grades ranging from 1.56 to 1.82 per cent nickel.
Related news
- London Mining remains on track to hit 2012 production target at Marampa
- Ceres Power Holdings reports significant improvements of its fuel cell products
- Oxford Catalysts Group shares advance as it announces first start-up of FT reactor
- Mariana Resources kicks off drilling programme at Las Calandrias gold-silver project
- Orogen Gold begins Phase 1 drilling programme at Deli Jovan
- Magnolia Petroleum on track to hit 100 wells target by end-2012
- Mwana Africa sells 15pct stake in Freda Rebecca gold mine for $405k - UPDATE
