South Harz Potash Ltd (ASX:SHP) non-executive director Len Jubber has demonstrated his confidence in the company's potash strategy by purchasing shares in an on-market transaction.
On June 4 Jubber, who was previously managing director & CEO of Bannerman Resources Limited (ASX:BMN), acquired 100,000 shares at A$0.09 per share in an indirect interest.
This marked his first purchase of fully paid ordinary shares in that interest.
MD purchase
It follows the on-market purchase on May 28 by SHP's managing director Dr Chris Gilchrist of 387,290 shares at A$0.097 per share in a direct interest.
This marked his first purchase in that interest with another 3.417 million shares held in an indirect interest.
The company is making progress towards developing its potash assets in Germany.
Confirmatory drill holes
Permission has been secured from landowners and tenants for the first of two planned confirmatory drill holes at Ohmgebirge mining licence area while approval is being sought from regulatory authority Thüringer Landesamt für Umwelt, Bergbau und Naturschutz (TLBUN).
Discussions with landowners and tenants on further drilling sites are also at an advanced stage, with permission anticipated shortly.
SHP is also continuing work on the Ohmgebirge scoping study 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 holes will assist in a revised mineral resource estimate and upgrading resources to the indicated category.