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Black Rock Mining non-executive director Ian Murray purchases shares on-market

Paterson Securities initiated coverage on Black Rock Mining with a speculative buy rating and a 12-month target price of 24 cents in its research report on Black Rock earlier this month.

The Mahenge Graphite Project is in Tanzania

Black Rock Mining Ltd (ASX:BKT) newly appointed non-executive director Ian Murray has shown in the faith in the company with the purchase of indirect shares on-market.

Murray purchased 1,291,842 shares, increasing his total securities held to 1,508,706 in indirect interest.

READ: Black Rock Mining makes appointments to drive Mahenge Graphite Project

Earlier this month Murray was appointed as non-executive director to the board while Jeffrey Dawkins was appointed as chief financial officer and joint company secretary.

Murray is a well respected and experienced mining executive with expertise in structuring and financing mining projects.

This expertise will support the financing and development underway at Black Rock’s flagship Mahenge Graphite Project in Tanzania.  



Black Rock Mining chief executive officer John de Vries spoke to Proactive Investors on May 17 about the company’s pilot plant trial in China and its pricing strategy underpinned by positive results from the results.

He said: “We basically produced 98% concentrate with 93% recovery – importantly, we got there in two days which gave us a lot of confidence in our capacity to ramp up the commercial plant.

“Being able to produce the very high-grade concentrate which is unique to Mahenge allows our customers to step up and actually validate for themselves that this stuff is real.”

Quick facts: Black Rock Mining Ltd

Price: 0.051 AUD

Market: ASX
Market Cap: $32.08 m

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