logo-loader

Southern Gold non-executive chairman demonstrates faith in company with on-market purchase

Last updated: 02:44 29 Sep 2020 EDT, First published: 02:02 29 Sep 2020 EDT

Southern Gold Limited - Southern Gold non-executive chairman demonstrates faith in the company’s mining strategy with purchase of shares
A suitable access track for a small rig has been built and drilling has started at the Weolyu project in South Korea

Southern Gold Ltd's (ASX:SAU) non-executive chairman Greg Boulton has demonstrated faith in the company’s Korean gold exploration strategy with the purchase of shares in an on-market transaction.

On September 25 Boulton acquired 133,528 shares and on September 28 he purchased 66,472 shares with both on-market purchases at 12.5 cents per share for a total value of $25,000.

These purchases in an indirect interest increased the number of securities held in that interest to more than 3.078 million shares.

Diamond drilling approvals

The company recently received regulatory approvals for a diamond drilling program at the Weolyu and Dokcheon projects in South Korea.

A suitable access track for a small rig has been built and drilling is underway at Weolyu.

The Weolyu program is expected to take about two months and following this, it is likely more drilling will be completed at the Aphae and Dokcheon projects.

Southern Gold managing director Simon Mitchell said: “It is great that the drill rig will be back turning at Weolyu – a program that has been much anticipated by our technical crew – which is one of our main targets.”

Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

5 hours, 51 minutes ago