The four board members participated in the May 2019 two-tranche placement.
The completion of the second and final tranche of the placement coincided with receiving the required shareholder approval for participation by the four board members.
Chairman Hamish Halliday purchased 400,000 shares increasing his stake to 7.48 million shares, and managing director Scott Williamson purchased 1 million shares doubling his stake to 2 million shares.
Non-executive director Stephen Parsons acquired 700,00 shares increasing his stake to 8.14 million, and technical director Andrew Radonjic acquired 150,00 shares increasing his stake to 6.3 million shares.
Blackstone’s recent two-tranche placement raised $2 million and was well supported by European and Australian investors.
The placement to institutional and sophisticated investors saw 40 million shares issued at 5 cents per share with funds to support exploration.
Blackstone has battery metals interests across three countries – Vietnam, Canada and Australia.
The Vietnamese nickel project, Ta Khoa, is the newest in the portfolio and has potential to be a near-term producer.
In May, the company entered a 12-month exclusive binding option agreement to purchase AMR Nickel Limited’s 90% interest in Ta Khoa.
Proactive caught up with the company in May 2019 to discuss the nickel acquisition.