Rumble Resources (ASX: RTR)
Matthew Banks, a non-executive director of Rumble Resources, bought north of $155,000 worth of the company’s stock in an on-market transaction.
|ASX : RTR
|Zinc, lead, silver,copper
|A$119 m @ 19c
|Wiluna, Western Australia
Rumble Resources Significant Director Purchase
Matthew Banks, a non-executive director of Rumble Resources, purchased 823,661 shares at a price of 19 cents, costing more than A$155,000.
This is a significant value transaction, and a bold statement in Mathew’s confidence in the company and its strategy.
Directors don’t always get buys in their own stocks right of course, but this does look like one that may prove savvy in the fullness of time.
Last year another NED, Michael Smith, bought 500,000 units at a cost of 30 cents each, highlighting the point made above, but also the fact that he too is confident in the eventual outcome of the project.
Rumble Resources’ main project is the Earaheedy zinc-lead sulphide deposit in Western Australia, of which it owns 75%.
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At the time of writing the author holds shares in Rumble Resources