On August 12, Mauritius-based Capital DI increased its stake to 13.82% from 12.47% following the purchase of 333,333 shares worth A$19,982.74.
The investor also acquired more than 11.6 million shares valued at $700,000 in Marvel's recent placement and now holds 80 million shares.
Delphi AG increased its stake to 12.94% from 11.56% on August 11, when 2invest AG acquired 7,945,492 shares on-market with a value just in excess of $437,000.
The German-based investor and related entities now holds more than 74.897 million shares in the company and also participated in the placement, which resulted in it becoming a substantial holder.
On August 10 Marvel Gold welcomed the backing of prolific German-based junior resources investor Delphi in relation to its A$4.2 million capital raise.
Marvel received binding commitments to raise the funds through a selective placement of 70 million shares to investors at A$0.06 per share.
The company is focusing on the upcoming spinout of its Chilalo Graphite Project in Tanzania, which will become Evolution Energy Minerals Ltd following an initial public offering.
This spinout will enable Marvel to fully focus on its advanced gold projects in Mali.
At the time, Marvel Gold managing director Phil Hopkins said the company would benefit greatly from Delphi’s investment.
“The placement price demonstrates the deep value potential in our gold and graphite assets, with the value of our graphite assets soon to be unlocked by our proposed spinout of the Chilalo Graphite Project, which has the potential to be highly value-accretive."