Pure Minerals Limited (ASX:PM1) director Eddie King has shown confidence in the company’s Townsville Energy Chemical Hub (TECH) Project plans with the on-market purchase of shares.
King bought one million shares for a consideration of $17,000.
New substantial holder
Earlier today, the company announced a new substantial holder in Robert Pearce who acquired more than 29.93 million shares, increasing his total number of Pure Minerals shares to 38.48 million.
Pearce now holds a 6.45% stake in the company.
Pure Minerals’ wholly-owned subsidiary Queensland Pacific Metals Pty Ltd recently sent a bulk sample of laterite ore from New Caledonia to the CSIRO pilot plant in Western Australia.
The company is progressing pilot plant works in parallel with the bulk sample processing.