(MENAFN- ProactiveInvestors)
's () executive chairman Brian Johnson has displayed a major vote of confidence in the company's operations by increasing his stake in the company through an on-market purchase.
Johnson snapped up 600000 shares for a consideration of $15540 for an average entry price of around $0.026 increasing his stake to 42.1 million shares.
The company is focused on production from the Las Lagunas gold/silver operations in the Dominican Republic.
China investment interest
Earlier in the week PanTerra said that it was in discussions with potential strategic shareholders from China showing interest in subscribing for 150 million shares at a premium to the current share price.
Hedge details
The company also recently altered is hedge book and now has 87000 gold ounces hedged at US$1200 per ounce for delivery at the rate of 9000 ounces per quarter commencing 31 March 2015.
The annual delivery of 36000 ounces represents 84% of forecast production over the next two years.
received US$6.5 million on closing out the previous hedge program which has been applied to reducing the project loan to US$22.7 million.
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