White Cliff Minerals Ltd (ASX:WCN) has had another 2.5 million of its shares bought on-market by one of its board members.
Michael Langoulant, executive chairman, purchased the shares on-market at a price of 0.4 cents in a show of support for the company.
The purchases increased Langoulant’s total holding to 59 million shares.
READ: White Cliff Minerals chairman demonstrates confidence in company through on-market purchase
These share purchases follow recent buying activity from both Langoulant and fellow managing director Todd Hibberd.
READ: White Cliff Minerals receives on-market buying from managing director
White Cliff recently received statutory approvals for an initial 3,000-metre drilling program at its Coglia Well cobalt and nickel project.
Drilling undertaken at Coglia Well in 2016 identified widespread cobalt and nickel mineralisation over an area 2,500 metres in length and 500 metres in width.
Some of the better extensions included 28 metres at 0.12% cobalt and 0.55% nickel from 60 metres and 12 metres at 2.18% nickel and 0.06% cobalt.