Blackham Resources (ASX: BLK) managing director Bryan Dixon has increased his stake in the company to 580,000 shares after acquiring 75,000 shares on market.
Dixon bought the shares for A$14,950, for an average entry price of A$0.199 per share.
He also holds 500,000 A$1 options exercisable on or before 2 April 2013.
Blackham has defined a gold resource of 1.35 million ounces at its Matilda Gold Project in Western Australia.
This is likely to give the project the critical mass required for development with the company now considering options to re-commission the Matilda Mine, including building its own processing plant on the Matilda site or process ore through the nearby Wiluna Gold Plant, which has surplus capacity.
Further resource upside is likely as the resources on the M3 and M8 deposits are currently being estimated.
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