Australia

Broken Hill Prospecting director shows faith in rare earths strategy with on-market purchases

Broken Hill Prospecting Ltd (ASX:BPL) non-executive director Geoffrey Hill continues to show his support for the companys new rare earths focus with further on-market share purchases this month.

On March 3 and 4, Hill acquired a total of 750,000 BPL shares with a total value of more than $11,000.

He now holds a total of more than 78.88 million shares in indirect interests.

Rights issue participation[hhmc]

The on-market purchases follow the directors participation last month in a renounceable rights issue at a price of 1.5 cents per share.

He purchased about 29.6 million shares for a total consideration of $444,005.

Applications totalling $1,310,227 were received in the rights issue, which was around 52.6% of the total offer.

Test work focus[hhmc]

Fund will be used to progress work at the La Paz Rare Earths Project in Arizona, USA, following the initial success of the maiden mappiRead More – Source

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