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Peel Mining sees major ASX-listed gold miner increase stake

Published: 15:22 01 Dec 2017 AEDT

collecting drill samples on site in New South Wales
Collectively, the board of directors are also major shareholders of the company

Peel Mining Ltd (ASX:PEX) has had major shareholder, St Barbara (ASX:SBM) increase its stake in the company to 16.3%.

The increase came about through the purchase of 10 million shares priced at $0.50.

St Barbara now holds 29.75 million shares in Peel.

READ: Peel Mining receives support in recent placement from major shareholder

Peel recently raised $6 million through the issue of 15 million shares at $0.40 as part of an oversubscribed placement to fund drilling at the Southern Nights discovery.

The high-grade zinc-lead-silver Southern Nights discovery is within the 100%-owned Wagga Tank project near Cobar, New South Wales.

READ: Peel Mining extends high-grade Southern Nights discovery

Shares in Peel have tripled in recent months, driven largely by the Southern Nights discovery.

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