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Augur Resources director increases stake in the company

Augur Resources (ASX: AUK) director Justin Werner acquired 55,000 shares on market at $0.15 per share on 29 November, for a total consideration of $8,250.

The purchase takes Werner’s interest in Augur to 985,000 directly held shares, 3.7 million indirectly held shares and 5 million unlisted options at $0.28, expiring on April 30, 2013.

The move shows confidence in the company, which in November intersected significant mineralisation at the Randu Kuning porphyry prospect in Centra Java.

Assays included 95.5 metres at 0.74 grams per tonne (g/t) gold and 0.16% copper from just 41 metres, including  a high grade zone of 5 metres at 5.08g/t gold and 0.5% copper.

These results indicate the possibility of high grade targets within Randu Kuning, and point to bulk tonnage potential.