South Harz Potash Ltd (ASX:SHP) managing director Dr Chris Gilchrist has demonstrated his confidence in the company's potash strategy by purchasing shares in an on-market transaction.
On May 28 Gilchrist acquired 387,290 shares at A$0.097 per share in a direct interest.
This marked his first purchase in that interest with almost 3.417 million shares also held in an indirect interest.
Upgrading resources
The company has secured permission from landowners and tenants for the first of two planned drill holes at the Ohmgebirge potash mining licence area in Germany and has applied for regulatory approval with regulatory authority Thüringer Landesamt für Umwelt, Bergbau und Naturschutz (TLBUN).
Discussions with landowners and tenants on further drilling sites are at an advanced stage, with permission anticipated shortly.
Work on the Ohmgebirge scoping study is continuing in parallel with regulatory dialogue and completion of the study remains on track for the end of 2021.
Ohmgebirge has an Inferred resource of 325 million tonnes grading 13.1% K2O and it is intended the two confirmatory holes will lead to a revised mineral resource estimate including upgrading inferred resources to the indicated category.