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Peninsula Mines director increases shareholding in recent SPP

The company is advancing a portfolio of flake graphite projects in South Korea.
three empty boardroom seats
Early results from diamond drilling recently revealed graphite intersections

Peninsula Mines Ltd (ASX:PSM) executive director Daniel Noonan has acquired an additional 400,000 shares in the company after participating in the share purchase plan (SPP).

The acquisition increases Noonan’s holding in the company to 16.5 million shares.

READ: Peninsula Mines completes SPP and placement, raising $886,000

Earlier this week, Peninsula intersected graphitic mineralisation in the first three diamond holes drilled at the high-grade Gapyeong Flake-Graphite Project in South Korea.

The three holes totalled 223.4 metres and confirmed the exploration target model for this high-grade flake graphite project.

These early results bode well for the definition of a maiden flake-graphite JORC resource.

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