Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Aphrodite Gold Directors Increase Holdings Through Share Purchase Plan

Aphrodite Gold's (ASX: AQQ) directors have increased their stakes in the company through the exercise of entitlement rights under its share purchase plan.

Non-executive chairman Peter Buttigieg acquired 1,125,000 shares in the company, paying a total consideration of $45,000, or $0.04 per share, for the new shares.

This brings his total shareholding held indirectly to 24,541,024 shares and 750,000 options.

Chief executive officer Wayne Ryder bought 375,000 shares for $15,000, increasing his shareholding to 4,537,500 shares and 1,325,000 options.

Managing and technical director Leon Reisgys acquired 250,000 share indirectly and 125,000 shares directly for a total of $15,000.

Reisgys now has a total shareholding of 1,200,000 shares and 250,000 options.

Marketing director Paul Weston bought 375,000 shares for $15,000, increasing his shareholding to 2,525,000 shares and 50,000 options.

Aphrodite is seeking up to $2.8 million through its Share Purchase Plan of up to 70 million shares priced at $0.04 each to continue exploration and development of its self-named project in Western Australia.

It has unveiled plans to build an oxide and refractory gold plant capable of processing an initial 1 million tonnes of ore per annum, the first in the Kalgoorlie region for the past 20 years.

The company has also increased JORC Resources at the Aphrodite Project by 35% to 1.4 million ounces of contained gold.

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.