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Ausmex Mining managing director stands alongside shareholders and buys stock

The purchase was a result of participation in the April 2019 share placement.

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Company shares are in a trading halt pending the release of exploration results

Ausmex Mining Group Ltd (ASX:AMG) managing director Matt Morgan has acquired 250,000 shares in the company for $30,000.

The purchase increases his overall holdings in the company to 24.8 million shares.

Morgan’s purchase was part of the April 2019 placement but as a director he required approval from shareholders which was given at the recent general meeting.

READ: Ausmex in trading halt ahead of exploration results

Ausmex shares are currently in a trading halt pending the release of information regarding exploration results.

In May 2019, the company sourced additional drill rigs to fast-track a 15,000-metre drilling program at the Mt Freda Complex near Cloncurry, Queensland.

The program is targeting high-grade gold, copper, cobalt and massive sulphides indicative of iron-oxide-copper-gold style (IOCG) mineralisation.

Ausmex has assigned five drill rigs to several prospects including large IOCG targets.

Quick facts: Ausmex Mining Group Ltd

Price: 0.076 AUD

ASX:AMG
Market: ASX
Market Cap: $40.06 m
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Ausmex Mining Group begins drilling for massive sulphides at Mt Freda in QLD

Ausmex Mining Group Ltd (ASX:AMG) managing director Matt Morgan updates Proactive Investors on the company's 15,000-metre drilling program now underway at its Mt Freda Complex in Cloncurry, QLD.   Morgan says that the program will include both reverse circulation and diamond...

on 13/5/19

2 min read