Hill purchased the shares for $12,120 which brings his total holding in the company up to 79,880,461.
Company name change
The company is refocusing on US operations, leading to a decision to change the company name to American Rare Earth Limited for which the ASX ticker code ARR is reserved.
BPL believes that localising the management and operations in the US is an important step in ensuring the enhancement of value of the La Paz project in Arizona and the overall business.
Upon completion of the initial exploration program and updated resource estimate, a scoping study will be commenced with the aim of accelerating the project into development and subsequent production.