Fe Limited (ASX:FEL) has had its chairman, renown resources industry veteran, Tony Sage, purchase shares in the company on market.
Sage purchased 1 million shares in total across a number of on-market trades that saw him boost his holdings in the company to over 3 million shares.
The 1 million shares were purchased for $27,000 resulting in an average purchase price of $0.027 per share.
During July, the company executed a binding term sheet with Cape Lambert Resources (ASX:CFE) to acquire 100% of Cape Lambert’s rights and obligations to the Kasombo Copper-Cobalt Project located in the Democratic Republic of Congo.
The Kasombo Project is located amongst some of the world’s largest and highest grade copper and cobalt mines.
Fe Limited also has a number of free-carried interests in projects located within the Bryah Basin region of Western Australia.