King River Copper (ASX:KRC) chairman Anthony Barton has increased his indirect interest in the company, acquiring 828,000 shares in on-market trades.
He acquired the shares for $20,889.58, or an average of $0.025 each. This takes his total stake up to 19,107,661 shares, or a 10.8% (Anthony Barton & Associates) interest in the company.
This follows on his acquiring 150,000 shares for $2,850 on 17th February and 169,671 shares for $3,334 on 11th February.
King River Copper is in the process of raising up to $1,771,900 from a 1:1 pro-rata non-renounceable rights offer priced at $0.01 per share to re-start exploration at the Kimberley project.
Shares in the company closed at $0.0027 on Friday.
The rights issue has already received applications totalling 30,466,578 shares priced at $0.01 each, or $304,665.78. This is above the minimum it sought of $250,000.
Proceeds from the rights issue will be used to advance the exploration of the copper and gold potential of its East Kimberley tenement.
Previous drilling had intersected anomalous gold and copper intervals along the 5 kilometre long Chapman to Greys structural corridor.
Drilling and recompilation of magnetic, IP and SAM geophysical data have identified new targets for drilling in 2015 associated with the interpreted west dipping Grey and Chapman thrusts.
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