Australia

Southern Gold directors dig deep with placement support for South Korean gold strategy

Southern Gold Limited (ASX:SAU) (FRA:UH4) directors have shown their support for the companys gold strategy centred on South Korea through participation in a $4 million placement.

Participation of the directors in the placement was approved by shareholders at a meeting this month with the purchases taking place on May 14 at 10 cents per share.

Metal Tiger participation


Prominent global copper and gold investor Metal Tiger PLC (LON:MTR) also participated with a $2.2 million investment and as a result has become a new substantial shareholder, holding 22 million shares for a 17.14% stake.

The UK-based company bought more than 5.02 million shares valued just over $502,000 in early April and on May 14 purchased almost 16.98 million shares valued at $1.698 million.

Director purchases


Non-executive chairman Greg Boulton purchased 500,000 shares valued at $50,000 in an indirect interest and now holds 2,878,256 shares in that interest.

Executive director Bong Joo (Beejay) Kim bought 300,000 shares valued at $30,000 in a direct interest, representing his first purchase.

Two non-executive directors, David Turvey and Douglas Kirwan, acquired 200,000 placement shares in indirect interest with each transaction valued at $20,000.

Turvey now holds 868,278 shares in that indirect interest while Kirwan now holds 333,334 shares in his indirect interest.

Fellow non-executive director Peter Bamford bought 140,000 shares valued at $14,000 in an indirect interest taking his holding in that interest to 406,667 shares.

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