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Global Geoscience director steps up and buys 107,500 shares

The shares were purchased yesterday at an average price of 24 cents each.
man with briefcase running up ascending share price arrow
The $25,800 share purchase follows the recent release of the pre-feasibility study

Global Geoscience Ltd (ASX:GSC) director Alan Davies has purchased 107,500 shares yesterday through on-market trades.

The purchases increase Davies’ holding in the company to 1.44 million shares.

READ: Global Geoscience PFS estimates Rhyolite Ridge value at US$1.8 billion

Davies’ purchases are a vote of confidence for the company who has just released its pre-feasibility study (PFS) for its Rhyolite Ridge Lithium-Boron Project in Nevada, US.

The PFS estimated a net present value (NPV) for the 100% owned project of US$1.82 billion, which is equivalent to over A$2.5 billion.

At a share price of 24 cents, Global Geoscience has a market cap of around A$350 million.

The recent estimated valuation provided by the PFS highlights the upside potential for the company and its shareholders.

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