Warburton picked up the shares for a consideration of around A$19,870.
Red Mountain Mining is delivering high grades from its Batangas gold project in the Philippines, recently confirming the trend of increasing gold grade at depth at its Lobo prospect.
Recent drilling returned a peak result of 4 metres at 11.18 grams per tonne (g/t) gold.
This intersection was part of a broader 6.3 metre at 8.03g/t gold interval from 197.8 metres depth at hole LB-70 at the West Drift, the deepest high grade intersection there to date.
Batangas hosts Inferred and Indicated Resources totalling 5.78 million tonnes at an average grade of 2.2g/t for 408,000 contained gold ounces.
This represents a geological resource that can be converted into a "mineable reserve", which has over 5 million tonnes grading in excess of 2.2g/t gold.
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.