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Coppermoly Directors Shows Confidence, Buys More Shares On Market

Coppermoly (ASX: COY) non-executive director Shawn Uldridgehas increased his stake in the company to 2.2 million shares after acquiring 1.5 million shares on market.

Faulkner bought the shares at an average price of A$0.027 each for a total consideration of A$40,500.

Coppermoly and partner Barrick (PNG Exploration) expect to complete a Conceptual Mining Study for the Nakru-1 copper-gold-silver project in September.

The project has an Inferred JORC Resource of 38.4 million tonnes at 0.6% copper, 0.28 grams per tonne (g/t) gold and 1.8g/t silver for a contained 514 million pounds of copper, 388,000 ounces of gold and 2.4 million ounces of silver.

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