Predictive Discovery Ltd's (ASX:PDI) managing director, Paul Roberts, has increased his stake in the company through participation in the heavily-oversubscribed renounceable rights issue.
Roberts spent just over $30,000 to lift his position to 2.2 million shares, along with several lines of unlisted options.
READ: Predictive Discovery closes rights issue heavily oversubscribed
The company is focused on gold exploration in Cote D’Ivoire and Burkina Faso, West Africa.
Currently a 5000 metre reverse circulation program is underway at Bobosso, which will test up to nine target areas including following up two areas where the April-May diamond drilling program obtained encouraging results such as: 8.7 metres at 3.3g/t gold from 39.6 metres.
The program is being funded by Progress Minerals Inc as part of the three-way joint venture between Predictive, Progress and West African Ventures Investment SARL.