The shares were purchased yesterday at an average price of 24 cents each.
() 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.
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.
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
In exchange for publishing services rendered by the Company on behalf of ioneer Ltd named herein, including the promotion by the Company of ioneer Ltd in any Content on the Site, the Company receives from said issuer...
FOR OUR FULL DISCLAIMER CLICK HERE