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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • Magnetic Resources MD Leads From The Front With On Market Share Acquisitions  0 comments
    May 28, 2012 8:37 PM

    Magnetic Resources (ASX: MAU) managing director George Sakalidis has acquired another 122,959 shares on market for a consideration of A$13,093, or around $0.10 per share.

    This latest purchase takes Sakalidis' shareholding in the company to 4.8 million fully paid shares.

    He also holds over 3 million in partly paid fully participating contributory shares and 2.4 million options.

    Last month Magnetic Resources increased the strike length of its targets in the York area of Western Australia by 30 kilometres with the discovery of coarse grained magnetite.

    The company has now increased the strike length of its targets to 105 kilometres over 10 project areas.

    Importantly, these targets may host one of the best magnetite products in WA.

    Sakalidis told Proactive Investors previously the magnetite comprises 70% iron and 1.3% silica once processed, making it a premium quality product.

    "Now that is unusually enriched in iron and very low in silica, which makes it a premium product and probably one of the best magnetites in Western Australia."

    Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.

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