viewGalena Mining Ltd

Galena Mining's managing director Alex Molyneux boosts holding with on-market purchase

The company continues to target initial production from Abra in 2021 and the first full-year of steady-state commercial production in 2022.

Galena Mining Ltd - Galena Mining's managing director Alexander Molyneux acquires 130,000 shares on-market
The Abra deposit remains one of the biggest undeveloped lead deposits in the world

Galena Mining Ltd’s (ASX:G1A) managing director Alex Molyneux has lifted his holding in the base metals developer by acquiring 130,000 shares in an on-market transaction.

The $34,450 purchase was made on Friday, February 21, increasing his total holding in the company to 3.7 million shares. 

EPC contract awarded for Abra processing plant

Earlier this month Galena awarded an engineering, procurement and construction (EPC) contract for the proposed processing plant at its flagship Abra Base Metals Project in Western Australia.

Under the contract, GR Engineering will produce a 1.2 million tonnes per annum lead sulphide flotation process plant and ancillary infrastructure.

Galena’s managing director Alex Molyneux said: “I am pleased we have been able to retain GR, which has the most relevant experience and understanding of our project, on terms that are in-line with our feasibility study estimates.”

Quick facts: Galena Mining Ltd

Price: 0.2225 AUD

Market: ASX
Market Cap: $89.71 m

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