Cape Lambert Resources Limited’s (ASX:CFE) Europe-based non-executive director Stefan Müller has demonstrated his confidence in the company’s battery metals strategy through on-market share purchases.
Through the acquisition of a further 500,000 shares, Müller has increased his holdings by 50% to 1.5 million.
These on-market acquisitions have been made in the past 12 months since Müller was appointed to the board in December 2017.
Strong European interest
In that time European interest in Cape Lambert has grown to the point where more than 30% of the company’s shares are held by European investors.
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.
READ: Cape Lambert Resources commences important drilling programs
Cape Lambert is undertaking important drilling programs at its Kipushi Cobalt-Copper Tailings Project in the Democratic Republic of Congo and Kitwe Tailings Project in Zambia.
The aim of both programs is to establish JORC-compliant resource estimates.
At Kipushi a 166-hole program is expected to be completed in mid-October 2018 while a 120-hole program is underway at Kitwe.
Cape Lambert’s chairman Tony Sage said: “I am very pleased that drilling works have finally commenced at the company’s projects in DRC and Zambia, we look forward to mineral resource estimates being established for both projects.”
READ: Cape Lambert Resources receives updated study for cobalt-copper project
Results from the drilling will also be used to finalise negotiations with strategic partners and off-takers.
Sage recently visited Korea to meet battery mineral users such as POSCO (KRX:005490), LG and Samsung as well as other smaller users.
He noted that demand for battery minerals in Korea is high driven by the perceived risk of market domination by the Chinese similar to the rare earths market.
As a result, Korean companies are seeking direct supply options for their desired battery minerals.