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Xanadu Mines chairman Mark Wheatley buys on-market

Xanadu Mines (ASX:XAM) chairman, Mark Wheatley, has purchased 38,400 shares on-market for a consideration of $7,680.
Xanadu Mines chairman Mark Wheatley buys on-market
The purchase increases Wheatley’s stake to circa 2.56 million shares.

The purchase increases Wheatley’s stake to circa 2.56 million shares.

The purchase follows the recent on-market purchase by non-executive director, Darryl Clark, who purchased 50,000 shares on-market.

Xanadu is the owner of Mongolia’s largest undeveloped copper-gold deposit, has committed to spending more than $4.5 million on exploration across its advanced porphyry copper-gold projects in the world class South Gobi porphyry Belt in 2017.

The planned exploration programs, among the largest to be undertaken by a junior ASX-listed exploration company next year, will target the discovery of additional copper-gold deposits on the company’s South Gobi porphyry projects at Kharmagtai and Oyut Ulaan.

Xanadu has already defined over 1.5 million pounds of copper and over 2 million ounces of gold resources at its flagship Kharmagtai copper-gold project.

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