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Kogi Iron non executive director buys more shares on-market

The company is continuing to progress the definitive feasibility study for its Agbaja Cast Steel Project in Nigeria.

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Kogi shares have surged from 7.8 cents last Friday to 9.5 cents today

Kogi Iron Ltd (ASX:KFE) non executive director Greg Boulton has shown confidence in the company’s Nigeria-focused steel strategy through on-market share purchases.

Boulton acquired 1000,000 shares and now holds 428,056 shares in Kogi via the Greg Boulton Family Superannuation Fund.

READ: Kogi Iron moves to the next phase of Agbaja Cast Steel Project DFS

The company is continuing to progress the definitive feasibility study (DFS) for its Agbaja Cast Steel Project in Nigeria.

Following the recent completion of the test work by Mintek and Tenova, as well as the marketing study undertaken by Fastmarkets MB, Kogi is now in a position to further progress the completion of the DFS by commencing the second and final phase of the Environmental Impact Study (EIS).

Kogi chairman Don Carroll recently said that the company has a clearly defined path as it continues toward finalisation of the DFS and ultimately the production of a cast steel product in Nigeria.

Quick facts: Kogi Iron Ltd

Price: 0.047 AUD

ASX:KFE
Market: ASX
Market Cap: $31.18 m
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