West Wits Mining Limited’s (ASX:WWI) executive chairman Michael Quinert has increased his shareholding in the company with an on-market purchase of about 230,000 shares.
This brings his holding to nearly 19 million ordinary shares and 12 million options.
The company’s shares increased by about 25% in March following a new board appointment and news that the company was ready to start work at the Tambina Gold Project.
Tambina a potential share price catalyst
West Wits is reviewing plans to recommence small-scale mining operations at the Tambina project in Western Australia.
The company is attracted to conglomerate gold mineralisation in the region.
Use of existing data
Utilising significant legacy data, the geology team is due to commence its inaugural field trip to confirm the location of conglomerate hosted gold targets.
This could potentially result in Tambina contributing modest cashflow towards the end of this year.
On this note, Quinert said: “The board has decided to take an opportunistic approach to the Tambina asset and is actively reviewing plans to recommence small-scale mining operations.”