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Jindalee Resources director steps up and buys more shares

This follows a recent purchase by fellow managing director Pip Darvall.

map of Nevada showing project location
The company is focused on the McDermitt Lithium Project located in the US

Jindalee Resources Ltd (ASX:JRL) executive director Lindsay Dudfield has purchased 200,000 shares in the company through on-market trades.

The purchases amounted to $57,690 in total resulting in an average purchase price of 28.8 cents per share.

This increases Dudfield’s holding in the company to 12.48 million shares.

Notably, managing director Pip Darvall recently also purchased over $15,000 worth of shares in the company.

READ: Jindalee Resources highlights project’s potential to host large lithium deposit

Jindalee is focused on the McDermitt project on the Nevada-Oregon border which has potential to become one of the US’s largest sediment-hosted lithium deposits.

An exploration target was recently estimated and the lower end of the exploration target range (ETR) is 160-780 million tonnes at 1300-1600 ppm lithium.

This includes a high-grade ETR of 20-80 million tonnes at 2100-2600 ppm within one discrete horizon, representing an ideal target for follow-up work.

Quick facts: Jindalee Resources Ltd

Price: 0.295 AUD

ASX:JRL
Market: ASX
Market Cap: $11.36 m
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Jindalee Resources completes capital raising successfully

Jindalee Resources Ltd (ASX:JRL) managing director Pip Darvall confirms to Proactive Investors that 2.36 million shares from the company’s July rights issue have been allocated. The company also confirms it has received binding commitments from sophisticated investors to place the entire...

on 23/8/19

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