(MENAFN- ProactiveInvestors - Australia) African Energy Resources (ASX: AFR) non-executive director Phil Clark has increased his interest in the company as it progresses the Sese Thermal Coal Project.
Clark has taken up a further 115,000 shares in African Energy through his super fund, increasing his indirect holding to 265,000 shares.
Total consideration of $21,900 was paid for the shares.
Earlier this month African Energy secured a memorandum of understanding with a potential offtaker for the electrical output from the company's proposed 300 megawatt coal fired power station at the Sese Thermal Coal Project in Botswana.
The agreement, while non-binding, provides an opportunity for the creditâ€rated national electrical utility, which importantly is a member of the Southern African Power Pool, to make a full assessment of the Sese Power Project.
This assessment could lead to binding agreements to jointly develop and finance the project.
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