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Syndicated Metals: Two directors boost stakes with on-market trades

Syndicated Metals (ASX: SMD) directors Russell Davis and Janet Hope have both increased their indirect holdings in the company through on-market trades.

Russell Davis purchased 240,000 shares at a touch over $0.15 for a consideration of $36,709, and now holds just under 6.4 million shares and 6 million options.

Janet Hope acquired 20,000 shares at $0.15 for a consideration of $3000, and now holds 720,000 shares and 2.6 million options.

Syndicated recently entered a very positive phase for the company, and last month commenced a drill program at Kalman, aimed to fast track to production.

The first results are due in August, and are targeting open-pittable copper-gold and molybdenum-rhenium mineralisation.

Under the restructured Kalman Joint Venture with Cerro Resources NL (ASX: CJO) announced in May, Syndicated can earn up to an 80% interest in Cerro’s plus 700 square kilometre Mount Isa tenements, including the Kalman polymetallic deposit, giving Syndicated control over one of the largest landholdings in the region.