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African Energy Resources chairman tops-up shareholding

African Energy Resources (ASX: AFR) executive chairman Alasdair Cooke has acquired 300,000 shares at $0.34 in an on market trade.

Cooke purchased the shares for a consideration of $102,842 and now holds 11,081,339 ordinary shares in the company.

Earlier in the year African Energy reported and initial resource of 2.73 billion tonnes of thermal coal at its Sese coal project in eastern Botswana.

The coal occurs in one main seam which averages 14 metres in thickness over an area of 110 square kilometres, and most importantly is close to surface, which is expected to be amenable to low stripÔÇÉratio open pit mining.

The main seam has been subdivided into an Upper and Lower seam on the basis of shale content.

African Energy Resources is currently trading at $0.33 per share.