Cape Lambert Resources Ltd (ASX:CFE) has received a vote of confidence from its most recently appointed board member, non-executive director Stefan Müller.
Müller, who was appointed to the board in December 2017, has purchased 500,000 shares on market.
Over 30% of shares held by European investors
Significantly, since Müller was appointed to the board, over 30% of the company's shares are now held by European investors.
This follows the trend of European Lithium Ltd (ASX:EUR) where over 60% of the shares are now held by European investors after Müller was also appointed to its board.
READ: Cape Lambert Resources' European expansion assisted by board appointment
Müller has extensive financial markets and investment banking knowledge and experience built over his 25-year career.
He is CEO and founder of DGWA Deutsche Gesellschaft für Wertpapieranalyse GmbH, a boutique European investment and financial markets consulting firm.
Cape Lambert acquired two synergistic cobalt copper tailings projects, in the Democratic Republic of Congo (DRC) and 170 kilometres away in neighbouring Zambia.
A pre-feasibility study (PFS) for the DRC project is due out in three months, with production expected to start within the year.
Meanwhile, test results on a 50 kilogram ore sample from the Zambia Project are due out in the coming weeks.