Wednesday, 18 September 2019 07:17 GMT

King River Copper directors increase shareholdings

(MENAFN - ProactiveInvestors)

King River Copper (ASX:KRC) directors have increased their direct and indirect interests in the company through take-up of the recent rights issue and in specie transfers by Australian Heritage Group.

Indirect interests of chairman Anthony Barton acquired 14760269 shares for a total of $179600.

Barton and associates now have 36371285 shares or a 11.8% interest in the company.

Non-executive director Greg MacMillan acquired 5254483 shares for $79765 taking his total indirect holding up to 13231044 shares.

Non-executive director Leonid Charucky has increased his direct and indirect interests by 1456062 shares for $14561. This takes his total holding up to 2912124 shares.

King River Copper recently raised $1.31 million through its recent 1:1 pro-rata non-renounceable rights offer priced at $0.01 per share.

The subscription for 131011116 shares represents a take-up of almost 74% of the 177190000 shares it had offered.

King River is now in position to pursue copper-gold exploration activities over 2015.

The exploration season will commence the week of 21st March with detailed IP surveys over the King River fault area and the Catto / Greys / Hayden / Chapman areas further to the North.

The results of these surveys will then be immediately followed up with reverse circulation drilling that is currently budgeted to commence the week of 21st April.


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King River Copper directors increase shareholdings

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