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King River Copper Chairman Anthony Barton Buys More Shares On-Market

King River Copper (ASX:KRC) chairman Anthony Barton has increased his indirect interest in the company, acquiring a further 420,000 shares in on-market trade.

He acquired the shares for a total of $11,276.37, or an average of $0.027 each. This took his total direct and indirect interest to 20,489,661 shares.

Earlier this month, Barton acquired 962,000 shares and 61,326 options for a total of $24,726.78 and 828,000 for $20,889.58.

King River Copper is in the process of raising funds from a 1:1 pro-rata non-renounceable rights offer priced at $0.01 per share to re-commence exploration at the Kimberley project.

Shares in the company last traded at $0.028 today.

The rights issue has already received applications totalling 61,694,435 shares, or $616,944.35.

Proceeds from the rights issue will be used to advance the exploration of the copper and gold potential of its East Kimberley tenement.

Previous drilling had intersected anomalous gold and copper intervals along the 5 kilometre long Chapman to Greys structural corridor.

Drilling and recompilation of magnetic, IP and SAM geophysical data have identified new targets for drilling in 2015 associated with the interpreted west dipping Grey and Chapman thrusts.

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