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IMX Resources' Director John Nitschke Buys On-Market

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.

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