viewMako Gold Ltd

Mako Gold managing director shows faith in gold strategy through on-market purchase

Peter Ledwidge has this month purchased more than 246,000 shares with a value exceeding $20,360.

Mako Gold Ltd - Mako Gold managing director shows faith in gold strategy through on-market purchase
The company is set to begin a drilling program at the Tchaga prospect

Mako Gold Ltd (ASX:MKG) managing director Peter Ledwidge has demonstrated his confidence in the company’s West African gold strategy by purchasing more than 246,000 shares on-market.

The October 25 transaction, which was valued in excess of $20,360, takes his stake in the company to more than 8.014 million shares, held in direct and indirect interests.

Shares of the company, which has a market cap of around $7.71 million, last traded on Friday at 8.6 cents, up from 7.5 cents the previous day.

RC drilling set to start

Mako Gold is about to start a 2,000-metre reverse circulation (RC) drill program at its Tchaga Prospect within the Napié Gold Project in Cote d’lvoire.

This will follow the recently completed and successful 27-hole RC program at Tchaga and other regional targets during July 2019.

A number of strong gold intersections were recorded at Tchaga including 18 metres at 3.25 g/t gold from 39 metres at 23 metres at 2.46 g/t gold from 15 metres.

These results doubled the strike extent of gold mineralisation on the prospect to 1-kilometre.

The company is focusing on Tchaga in its endeavour to outline a JORC-compliant gold resource.

Mako’s flagship project is Napié in north-central Côte d’Ivoire where it is earning up to a 75% interest.

Quick facts: Mako Gold Ltd

Price: 0.099 AUD

Market: ASX
Market Cap: $20.94 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Mako Gold Ltd named herein, including the promotion by the Company of Mako Gold Ltd in any Content on the Site, the Company receives from said...


Mako Gold secured 10 million in financing, plans to accelerate Napie project...

Mako Gold (ASX: MKG) Managing Director Peter Ledwidge joined Steve Darling from Proactive with news the company has secured 10 million in financing. That money, the company says, will be used to accelerate their Napie project. Ledwidge also told Proactive the company has released some...

4 weeks, 1 day ago

2 min read