Perpetual Resources Ltd (ASX:PEC) substantial holder Delphi Unternehmensberatung AG has increased its stake in the silica sand company to 8.22% from 5.26%.
On March 25 Delphi added 4.1 million shares to its tally at 8.1 cents per share and on April 6 the substantial holder added a further 10 million shares at 7.5 cents per share.
Delphi, a prominent investor in Australia’s resources sector, now has a total of 39.1 million shares in the company.
Strategic movements
On February 24, Delphi became a substantial holder after purchasing 25 million shares in Perpetual Resources, resulting in a 5.26% stake.
Earlier that month the German-based investor supported the company’s $2 million placement at 8 cents per share, with proceeds set to further advance PEC’s Beharra Silica Sand Project through permitting, approvals and subsequent definitive project studies.
At the time executive chairman Julian Babarczy said: “We are encouraged by the strong vote of confidence shown in our company by an investor of such high calibre and welcome our newest substantial shareholder as a capital partner for our business.”