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Trigg Mining managing director shows faith in SOP strategy with on-market purchase

The company last week received an infrastructure boost with a joint State and Federal government program to seal 41 kilometres of the Great Central Road.

Trigg Mining Ltd - Trigg Mining managing director shows faith in SOP strategy with on-market purchase
Keren Paterson has this week acquired 52,000 shares

Trigg Mining Ltd (ASX:TMG) managing director Keren Paterson has demonstrated her confidence in the company’s sulphate of potash (SOP) strategy with an on-market share purchase.

On June 2, Paterson acquired 52,000 shares in a direct interest.

She now holds 52,000 fully paid ordinary shares in that direct interest and another 1.45 million loan shares in the same interest, which were acquired under a Loan Funded Plan.

The MD also holds 2.498 million shares in an indirect interest.

Shares last traded at 8 cents and since the close on April 1 have traded in the range from 2 cents to 8.7 cents.

Road sealing boost

Last week Trigg received an infrastructure boost for its Lake Throssell SOP Project in WA with a joint State and Federal government program to seal a 41-kilometre section of the Great Central Road.

The road is a key arterial route that runs from Leonora and Laverton towards Trigg's high-grade project and the $20 million road sealing contract will assist in future project development.

This work is expected to improve project access and future logistics in terms of the transport of people, equipment, materials and product to and from the project.

Travel restrictions eased

The WA Government also announced a further phased lifting of intrastate travel restrictions which is expected to clear the way for the resumption of field activities and for the company’s maiden exploration aircore drilling program to begin next quarter.

SOP targets defined

A recent gravity survey at Lake Throssell defined several targets which are highly prospective for high-grade SOP endowment.

Trigg believes these targets have strong potential for large-scale SOP mineralisation, particularly given that similar systems in the region are subject to mining studies.

The upcoming drilling is designed to establish if the tenor of surface mineralisation, averaging 11,800 milligrams per litre SOP and up to 14,800 milligrams per litre SOP11, can be reproduced in the sub-surface aquifer - as is the case at the company’s Lake Rason SOP Project.

Quick facts: Trigg Mining Ltd

Price: 0.07 AUD

ASX:TMG
Market: ASX
Market Cap: $2.81 m
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Trigg Mining welcomes infrastructure boost from WA Government for Lake...

Trigg Mining Ltd's (ASX:TMG) Keren Paterson speaks to Proactive's Andrew Scott following the news the WA Government is to seal a 41-kilometre section of the Great Central Road which will benefit the Lake Throssell Sulphate of Potash (SOP) project. The road's a key arterial route that runs from...

on 29/5/20

2 min read