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  • Kibaran Resources Executive Director's Substantial Shareholding Rises To 19.84% 0 comments
    Jan 28, 2014 11:50 PM

    Kibaran Resources' (ASX: KNL) executive director Andrew Spinks has increased his substantial shareholding in the company to 19.84% from 9.63%.

    This follows the conversion of 11,151,000 performance shares into ordinary shares yesterday as well as his acquiring on 29 October 2013 100,000 shares for $15,252 on the market.

    Spinks now holds 16,465,386 shares in the company.

    The company had late last month signed a binding offtake agreement with a sophisticated European graphite trader (NASDAQ:EGT) for graphite from its Epanko Project in Tanzania.

    The off-take agreement to purchase 10,000 tonnes of flake graphite concentrate per year, over a 5 plus 5 year period, provides an independent endorsement of the quality and commercial appeal of graphite at the Epanko deposit.

    Kibaran wholly-owns the Epanko deposit which currently has an Inferred JORC Resource of 14.9 million tonnes at 10.5% TGC, for 1.56 million tonnes of contained graphite. The deposit is located within the Mahenge Graphite Project.

    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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