PolarX Ltd (ASX:PXX) directors have demonstrated their confidence in the company’s Alaskan copper-gold strategy by purchasing shares in on-market transactions.
All three directors - executive chairman Mark Bojanjac, managing director Frazer Tabeart and executive director Jason Berton - each purchased 1 million shares on May 13 at a value of 1.5 cents per share.
It was Bojanjac's first purchase and was for an indirect interest while Berton now holds almost 14.665 million shares in an indirect interest.
The MD's purchase was for an indirect interest which now holds more than 1.792 million shares with another 3,700,395 shares held in a direct interest.
Plans to secure earn-in JV
The company has continued activities during the March quarter at its 262-square-kilometre Alaska Range Project in Alaska, which contains the Caribou Dome and Stellar copper and copper-gold projects.
At Caribou Dome drilling is planned at Zackly East deposit while the company is in discussions with numerous potential JV/funding partners for the Stellar porphyry project, which includes the Mars and Saturn porphyry targets.
With JORC resources at Caribou Dome and Zackly, they form a high‐grade copper and copper‐gold portfolio with demonstrated endowment and upside potential for resource extensions and larger porphyry copper‐gold discoveries.
During the March quarter, preliminary core drilling was undertaken to evaluate the Saturn and Mars porphyry copper‐gold targets.