Cervantes Corporation Limited (ASX:CVS) substantial shareholders Nuzeno Holdings Pty Ltd and Acxu Smsf Pty Ltd have lifted their combined stake in the company.
They now hold 10.5% of Cervantes, up from 9.08%, as outlined in a notice of change of interests of substantial holder.
The new shares were purchased in a series of transaction from April 2018 to September 2018.
Cervantes is continuing to pursue “fast wins” in the gold sector as it focuses on projects with the potential for cheap, near-term production.
The South Perth-based company holds a number of gold projects in its West Australian portfolio.
Cervantes recently intercepted shallow high-grade gold mineralisation within the historical Pansy Pit at Primrose Gold Project south of Meekatharra.
The company is also excited by the potential of its Albury Heath project in the Meekatharra area.
Cervantes managing director Marcus Flis recently said the company had been accumulating a portfolio of gold projects on Australia’s west coast.
He added: “The focus of that accumulation has been looking at near-term and cheap gold production.
“We’ve gone to a number of different areas in the Eastern Goldfields and in the Yilgarn of WA, looking for projects that fit the criteria of both fast wins, easily got ounces and hopefully near-term production.”