Kingston Resources Ltd (ASX:KSN) director Stuart Rechner has shown his support for the company’s gold strategy with on-market share purchases.
Between December 11 and 17 the non-executive director acquired 84,000 shares with a total value of $12,420.
He now holds almost 201,000 fully paid ordinary shares in an indirect interest.
Kingston is advancing the 77%-owned, 2.8 million-ounce Misima Gold Project in Papua New Guinea and the 75%-owned Livingstone Gold Project in Western Australia.
Shares in the company, which has a market cap of approximately $28.3 million, last traded at 16 cents, the highest since November 8.
New company secretary
Kingston has this week also appointed Christopher Drew as company secretary replacing Rozanna Lee.
Drew joined the company in June 2016 as business and commercial manager and has been the CFO since July 2018.
He holds a Bachelor of Commerce (Hons) from The University of Auckland, is a CFA Charter holder and a Fellow member of the Governance Institute of Australia.
The company’s board thanks Ms Lee for her services to the company.
Misima was operated as a profitable open pit mine by Placer Pacific between 1989 and 2001, producing more than 3.7 million ounces before it was closed when the gold price was below US$300/ounce.
The project offers potential for additional resource growth through exploration success targeting extensions and additions to the 2.8 million-ounce resource base.