Core Exploration Ltd (ASX:CXO) director, Stephen Biggins, has purchased 188,680 shares for $10,000 by participating in the company’s share purchase plan.
The investment has been made through Nowak Investments Pty Ltd in which Biggins is a director and has a beneficial interest.
Core recently doubled the indicated lithium resource at the Grants lithium deposit within its Finniss Lithium Project in the Northern Territory.
READ: Core Exploration doubles indicated lithium resource at Grants
The Grants lithium resource has been upgraded to 2 million tonnes at 1.5% lithium, with over half of the resource now contained in the Indicated category.
Importantly, this increases the confidence in the project ahead of the finalisation of the pre-feasibility studies (PFS).
Aiming to commence production in 2019
Core is aiming to complete the feasibility studies for the development of lithium production from Grants and potentially other future resources within the Finniss Project, such as that at BP33, in 2018.
The company’s objective is to complete regulatory approvals and commence production in 2019.