Viking Ashanti (ASX: VKA) non-executive chairman John Gardner continues to show confidence in the company, increasing his shareholding by 390,000 shares.
Gardner acquired the shares on-market for a total consideration of A$50,310, or around $0.129 per share.
The purchase takes his shareholding to 5.1 million ordinary shares and 1.5 million options exercisable at $0.345 on or before 31 December 2012.
Viking Ashanti’s Akoase East Project in Ghana has potential to grow well beyond 1 million ounces of gold.
Recent drilling at the project produced a 40% increase in gold resources to 704,000 ounces, and now drives a fast tracked drilling program into higher grade resources at Alimac, and other targets along a very prolific gold trend.
Currently defined resources at Akoase East are located within a 3 kilometre strike length, and multiple targets are revealing additional resource ounces along the remaining 9 kilometres of strike.
New resource modelling has confirmed higher grade mineralisation at the partially drilled Alimac prospect where the thickest and highest grade gold hits of the entire drilling program have been reported.
Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.