Gold and nickel focused St George Mining's (ASX: SGQ) Executive Chairman John Prineas acquired 200,000 ordinary shares indirectly in on market purchases between 8th and 11th April 2011 at $0.198 per share.
Prineas purchased the shares for a consideration of $39,650 and now owns 541,000 ordinary fully paid shares through Zeus Private Equity Pty Ltd.
Prineas also holds 6,962,517 ordinary fully paid shares (6,844,177 escrowed until 16 November 2012) and 30 performance shares.
In addition, he holds 50,000 ordinary fully paid shares through Zeus Superfund Pty Ltd.
On April 4 St George Mining entered into a farm-in agreement with BHP Billiton (ASX: BHP) to explore for nickel sulphide at St George’s East Laverton Property.
Under the agreement, BHP Billiton will have the right to earn a 70% interest in the nickel rights at East Laverton in the North-Eastern Goldfields region of Western Australia by sole funding a Bankable Feasibility Study (BFS), with St George retaining a 30% stake.
St George Mining is currently trading at $0.195.