Resolute Mining Ltd (ASX:RSG) managing director and CEO John Welborn has purchased 25,000 more shares in the company last Friday through on-market trades.
The $25,750 purchase increases his overall shareholding in the gold mining company to 4.55 million shares.
READ: Resolute Mining locks in some profits with forward sales
Last week Resolute took the opportunity to forward sell another 30,000 ounces of gold at an average price of US$1,337 per ounce.
This increased the company’s total hedge book to 160,000 ounces of gold with about 60% of the hedges in A$ and the balance in $US.
Resolute is still leveraged to plenty of upside in the gold price wit 160,000 ounces representing less than 3% of the company’s current Ore Reserves.