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  • IMX Resources' Director John Nitschke Buys On-Market 0 comments
    Dec 6, 2012 12:00 AM

    IMX Resources' (ASX: IXR, TSX: IXR, IXR.WT) director John Nitschke has increased his stake though an on-market purchase of 500,000 shares at $0.11 for a consideration of A$55,000.

    Following the purchase the Nitschke Pension Fund now holds; 870,000 shares and 50,000 listed options at A$0.60, expiring September 14, 2015.

    Nitschke has additional interests in the company through the Bwindi Family Trust, which includes; 370,000 shares and some listed and unlisted options.

    Nitschke is not the only director buying, with yesterday non-executive director Kellie Benda announced a purchase of 235,000 shares on-market.

    Benda acquired the shares for a total consideration of A$24,675, providing an average entry price of $0.105 per share.

    IMX is in the process of selling a 49% interest in the Mt Woods Copper-Gold JV and associated tenements to OZ Minerals (ASX: OZL), giving it cash to continue exploration and evaluation work on the wholly owned Nachingwea property in Tanzania, which hosts the Ntaka Hill Nickel Sulphide Project.

    The company has recently delivered a string of positive nickel sulphide results from Ntaka Hill, one of the world's best undeveloped nickel sulphide projects with the potential to produce a very clean, high quality premium nickel concentrate.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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