KGL Resources (ASX:KGL) non-executive chairman Andrew Daley has increased his indirect interest in the company through an acquisition of shares in on-market trade.
Indirect interests of Daley acquired 85,865 shares at $0.20 each, or a total of $17,173.
This follows on his indirect interests acquiring 136,500 shares at between $0.1473 and $0.1733 per share from 19th December to 22nd December.
Daley now holds 822,403 shares held indirectly.
Earlier this month, KGL delivered a Pre-Feasibility Study update for its wholly-owned Jervois copper project in the Northern Territory.
This demonstrated that the project is technically and commercially feasible with strong upside from additional planned drilling and metallurgical work.
The company is starting a $2.7 million additional work program that targets an extra $100 million to $200 million of free cash flow over the life of the project in an optimised pre-feasibility study.
Jervois Capex is estimated at A$189 million including $22 million in contingency with C1 cash costs of US$1.51 per pound (After by-product credits and using an exchange rate of A$/USD 0.845 and silver price of US$20/oz).
This will produce approximately 21,000 tonnes per annum of copper and 1 million ounces per annum of silver in concentrate plus gold, lead and zinc.
The company remains well funded with $12.7 million in cash at the end of September 2014, and no debt.
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