Arvind Misra, the managing director of mining contractor India Resources, has increased his stake in the company with an on-market purchase of 250,000 shares for a consideration of $5,270, valuing each new share at $0.021.
Misra now holds 7,712,773 ordinary shares, 2,500,000 unlisted options expiring 30 June 2012, and 6,000,000 unlisted options expiring 31 December 2017.
Andrew Simpson, chairman, purchased an additional 1,000,000 shares for a consideration of $20,383, valuing each new share close to $0.02.
Simpson now holds 3,000,000 ordinary Indian shares.
Last week India announced it had completed a record breaking 855 tonnes of copper metal-in-concentrate production from the Surda Mine and Mosaboni Concentrator Plant in India, for the September 2010 quarter, 2% above the previous record.