Legend Mining Limited (ASX:LEG) directors and senior management have demonstrated strong confidence in the company’s growing nickel sulphide story focused on Western Australia’s Fraser Range by exercising options.
The early exercising of 74.9 million 4-cent March 30, 2021, unlisted options and another 2 million 7.2-cent September 30, 2022, unlisted options has given the company a $3.14 million cash boost.
As a result, managing director Mark Wilson has become a substantial shareholder via Wilson Group, which is now the company’s third-largest shareholder.
Chairman Michael Atkins, via Atkins Group, and general manager exploration Derek Waterfield, through the Waterfield Group, have also now become top 20 shareholders.
Wilson Group has added 40 million shares to its tally through exercising options with a total value of $1.6 million on March 3 and now holds almost 170 million shares split between three indirect interests for a 6.16% stake.
Atkins Group exercised 10 million options for total consideration of $400,000 and now holds more than 17 million shares in one direct and one indirect interest.