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

Central China Goldfields chairman Ruxton buys further 250,000 shares in company

Central China Goldfields PLC (AIM: GGG) said it was notified by chairman Peter Ruxton that he bought a further 250,000 shares in the company today at 2.75 pence a share. He notified the group only two days ago that he bought 17,336 ordinary shares on December 10 at 2.8p per share.

Ruxton's total holding is now 267,336 shares, or approximately 0.15 percent of the issued share capital.

Central China in December terminated its interest in the Dong Mao Huo gold project, thus exiting its last project in China.

The company now has no further financial obligations to meet in respect of exploration properties in China, but retains a 10 percent interest in the Nimu project in the country until the full consideration for the planned sale of Nimu is received.

The primary focus is now on the Cikoleang gold property in Indonesia where the company, having paid an initial US$45,000 to its local partner, PT Fino Bersaudara, is undertaking an extensive work programme to determine whether this property can be moved into early production.

In addition, Central China is still actively reviewing a number of gold and copper opportunities with a view to acquiring further assets which can be fast tracked into production.

Disclosure: I do not hold a position