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Kalgoorlie Mining Company Director Raises Shareholding With On Market Purchases

Kalgoorlie Mining Company (ASX: KMC) non-executive director Roger Kwok has increased his interest in the company by around 6 million shares.

The recent on market acquisition takes his total shareholding to nearly 81 million shares, with the latest purchase done at a total consideration of nearly A$30,000, providing an average entry price of $0.005 per share.

Earlier this year Kalgoorlie Mining agreed to a proposal to recapitalise the company from an investment syndicate represented by Kwok.

As part of the deal, he agreed to fully underwrite the company's recent three-for-one non-renounceable rights issue to raise $9.7 million.

With a strengthened cash position, Kalgoorlie Mining has begun the process of developing and reviewing exploration programs across its tenement area; further considering the care and maintenance program at the Bullant gold mine; and investigating and analysing possible future mining plans.

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