Black Fire Minerals directors increasing interests
Black Fire Minerals' (ASX: BFE) managing director Simon Rigby and non-executive director Michael Clifford have each increased their stake in the company.
On December 16, Rigby acquired 90,500 shares at a price of $0.11 per share in an on market trade.
The move brings Rigby's total holding in Black Fire to 857,167 shares.
In addition, Rigby holds 2.25 million options exercisable at $0.15 each expiring on June 30, 2012, and a further 2.25 million options exercisable at $0.20 expiring on June 30, 2013.
Meanwhile, Clifford purchased two lots of shares on market, acquiring 49,762 shares at $0.105 per share on December 15 and a further 17,225 shares at the same price on December 21.
The acquisitions take Clifford's total holdings to 969,820 ordinary shares, along with 250,000 $0.15 options expiring June 30, 2012, and 250,000 $0.20 options expiring June 30, 2013.
Combined with earlier transactions by Clifford and non-executive chairman Anthony Baillieu late last year, these acquisitions are a vote of confidence in Black Fire Minerals, as the company works to define JORC Resources at the Kangeshi Copper Silver Project and Pilot Mountain Tungsten Copper Project.
Drilling at Kangeshi, in the Democratic Republic of the Congo, and Pilot Mountain, in Nevada U.S., began late in 2011, with mineral resources targeted by June 2012.
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