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Matador Mining directors show faith in gold strategy with placement participation approved

Executive chairman Ian Murray has purchased 1 million shares and executive director Keith Bowes acquired 150,000 shares.

Matador Mining Ltd - Matador Mining directors show faith in gold strategy with placement participation approved
The company is in a trading halt

Matador Mining Ltd (ASX:MZZ) directors have demonstrated their confidence in the company’s gold exploration strategy by participating in a $5.2 million private placement concluded earlier this year.

The participation by executive chairman Ian Murray and executive director Keith Bowes was approved by MZZ’s shareholders at a general meeting held last month.

Director purchases

On July 1, Murray purchased 1 million shares valued at $200,000 in an indirect interest and this was his first purchase of fully paid ordinary shares.

Also, on that date, Bowes acquired 150,000 shares valued at $30,000 in an indirect interest and now holds 190,000 shares in that interest.

The private placement to institutional, professional and sophisticated investors at a price of 20 cents per share raised $5.2 million.

Capital raising news upcoming

Matador Mining is currently in a trading halt pending a material capital raising announcement.

This halt is scheduled to be lifted by the start of normal ASX trading tomorrow, Wednesday, July 8.

Shares in the gold explorer last traded at 32 cents and have been climbing steadily from 9.5 cents at the close on March 23.

Quick facts: Matador Mining Ltd

Price: 0.47 AUD

ASX:MZZ
Market: ASX
Market Cap: $72.86 m
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