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Yandal Resources managing director buys shares on market

The share purchase is a vote of confidence for the company's gold exploration prospects in Western Australia.

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The average purchase price of the shares was 22 cents

Yandal Resources Ltd (ASX:YRL) managing director Lorry Hughes purchased 100,000 shares in the company last week through on-market trades.

The $22,071 purchase increased Hughes’ overall holdings to 2.73 million shares.

Hughes is an economic geologist with over 24 years’ experience having held executive and senior management positions on mining and development projects for companies including Energy Metals Ltd, CSA Global, Rio Tinto and Barrick.

READ: Yandal Resources drilling confirms gold mineralisation at Flushing Meadows

Yandal has recently received multiple batches of drill results from pospects within its Ironstone Well and Barwidgee projects in the Yandal Greenstone Belt of Western Australia.

The Flushing Meadows prospect within the Ironstone Well Project has been producing consistent gold mineralisation and the resource area was recently extended to 1.9 kilometres in length.

Quick facts: Yandal Resources Ltd

Price: 0.255 AUD

ASX:YRL
Market: ASX
Market Cap: $17.05 m
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Yandal Resources outlines capital raising to accelerate exploration

Yandal Resources Limited (ASX:YRL) managing director Lorry Hughes speaks to Proactive Investors about the new rights issue to shareholders to raise around $2.9 million.    Hughes says this puts the company in a great position when the gold market is flying...

on 26/6/19

2 min read