Mutiny Gold Managing Director Shows Way With Options Purchase

Sep. 20, 2013 1:37 AM ET
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Mutiny Gold (ASX: MYG) managing director John Greeve has acquired 3,000,000 listed options under the company's recent option issue to fund further development of the Deflector gold-copper project in Western Australia.

Greeve paid $30,000 for the options, which have an issue price of $0.01 each.

He now holds 23,480,416 shares, 3 million new listed options exercisable at $0.05 each on or before 15 August 2015, 6442000 performance rights and 8,720,000 unlisted options with exercise prices ranging from $0.15 to $0.35.

Separately, chairman Frank Lawson acquired 250,000 of the listed options for $2,500.

He now holds 6,130,185 shares, 250,000 listed options and 2,425,000 unlisted options.

Mutiny's option issue had closed oversubscribed with applications for 84,618,116 of the new option, up from the 80,000,000 options to raise $800,000 on offer.

Directors have resolved to place the oversubscribed portion under the company's 15% placement capacity.

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.

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