PNX Metals Ltd’s (ASX:PNX) board of directors have shown faith in the company with Graham Ascough, Paul Dowd, Peter Watson and David Hillier acquiring fully paid ordinary shares in a non-renounceable rights issue.
The non-renounceable rights issue was announced in April to raise $5.48 million towards its Hayes Creek Zinc-Gold-Silver Project, including completion of the definitive feasibility study and ongoing assessment of the high-grade Fountain Head Gold Project.
PNX chairman Graham Ascough acquired 4,149,951 shares worth $24,899.71 and now holds more than 11.06 million shares in indirect interests.
PNX non-executive director Paul Dowd purchased 8,007,990 shares worth more than $48,000 and now holds more than 21.85 million shares in indirect and indirect interests.
PNX non-executive director Peter Watson purchased 6,11,484 shares and now holds more than 16.31 million shares in direct and indirect interests.
PNX non-executive director David Hillier acquired 3,946,430 shares worth more than $23,670 increasing his securities to 10,500,001 fully paid shares in indirect interests.