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King Island Scheelite chairman snaps up shares on market

The company aims to mine tungsten from its Dolphin Project on King Island in the Bass Strait north of Tasmania.
man with briefcase running up ascending share price arrow
Earlier this week the company entered into a major offtake agreement

King Island Scheelite Ltd’s (ASX:KIS) executive chairman Johann Jacobs has purchased 100,000 shares in the company through on-market trades.

The $9,419 purchase increases his total holding in the company to 3.98 million shares.

READ: King Island Scheelite secures 4-year tungsten offtake, shares up 30%

Earlier this week, King Island entered into an offtake agreement for tungsten concentrate from its high-grade Dolphin Tungsten Project on King Island in the Bass Strait north of Tasmania.

Under the deal, 1,400 tonnes of tungsten oxide (WO3) or 2,200 tonnes of concentrate will be delivered over a four year period to Austrian company Wolfram Bergbau und Hutten AG.

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King Island Scheelite Limited Timeline

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