Mako Gold Ltd (ASX:MKG) board members Mark Elliot, Peter Ledwidge, and Michele Muscillo have all purchased additional shares in the company.
All three share purchases are in relation to their participation in the recent 1-for-4 rights issue priced at 8.5 cents.
Chairman Mark Elliot acquired 150,000 shares, managing director Peter Ledwidge acquired 235,294 shares, and non-executive director Michele Muscillo acquired 58,823 shares.
The purchases increase Elliot’s holding to 3.41 million shares, Ledwigde’s holding to 7.76 million shares and Muscillo’s holding to 558,823 shares.
READ: Mako Gold advances along a gold-paved road in West Africa
About one month ago, Mako recommenced drilling at the Napie Gold Project in Cote d’lvoire, West Africa, with a 3,600-metre reverse circulation (RC) program.
Drilling is designed to test the strike extent of the broad zones of gold mineralisation identified to date.
Proactive caught up with the company at the time to discuss the drilling program.