(MENAFN- ProactiveInvestors)
() chairman Derek Carter and non-executive director Pedro Rodriguez have received additional shares in the company through the conversion of Class A performance shares.
This follows the company satisfying the JORC code compliant Indicated Resource milestone.
Carter received 5510752 shares bringing his indirect interest up to 11021504 shares while Rodriguez received 5510752 shares increasing his direct holding to 11021504 shares.
Highfield has increased total resources at its Muga-Vipasca project to 302 million tonnes at 11.5% K2O which would mean a longer life and a larger mine than envisaged in a previous feasibility study.
In addition Measured and Indicated resources increased by 52% to 239 million tonnes at an average grade of 11.3% K2O. That now accounts for nearly 80% of the total mineral resource.
A Definitive Feasibility Study is on track for release by the end of the first quarter of 2015.
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