Buttigieg holds 2.28 million shares in the company along with 810,000 listed options exercisable at $0.20 on or before 31 December 2013.
The company has recently reduced administration and overhead costs by removing the managing director and chief executive officer.
It has also urged shareholders to approve a $2.5 million convertible note facility from a company related to the executive chairman and acting chief executive officer Peter Buttigieg.
This would allow the company to fund day to day operations into 2014 and conclude the current stage of feasibility studies for the 1.4 million ounce Aphrodite Gold project prior to commencement of the final Defined Feasibility Study.
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