Peel Mining Ltd (ASX:PEX) has had major shareholder, St Barbara (ASX:SBM) increase its stake in the company to 16.3%.
The increase came about through the purchase of 10 million shares priced at $0.50.
St Barbara now holds 29.75 million shares in Peel.
READ: Peel Mining receives support in recent placement from major shareholder
Peel recently raised $6 million through the issue of 15 million shares at $0.40 as part of an oversubscribed placement to fund drilling at the Southern Nights discovery.
The high-grade zinc-lead-silver Southern Nights discovery is within the 100%-owned Wagga Tank project near Cobar, New South Wales.
READ: Peel Mining extends high-grade Southern Nights discovery
Shares in Peel have tripled in recent months, driven largely by the Southern Nights discovery.