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Liberty Resources MD Andrew Haythorpe Increases Substantial Shareholding

Liberty Resources' (ASX: LBY) managing director Andrew Haythorpe and his associates have increased their substantial shareholding in the company to 13.07% from 12.74%.

This follows Tesha Pty Ltd, in which Haythorpe is a director and has a beneficial interest, acquiring 1,480,204 shares for $0.045 each, or a total consideration of $66,609.18.

He now holds or is associated with 37,092,537 shares in the company.

The company had recently revealed that a high quality coking coal fraction with a crucible swell number greater than 9 can be produced from its EPC1949 coal tenement in the Bowen Basin, Queensland.

This follows an initial drill program completed and confirmed coking coal on EPC 1949. Two parallel cored holes were sampled.

The report ranked the coal's vitrinite reflectance at 1.35, well within the range for hard coking coals.

Sulphur content and fluidity were also found to be within acceptable limits. They were also found to have low phosphorus content. The relative ash placement level selected of 10.5% was also found to be at the higher end of internationally traded coal in Queensland.

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