South Harz Potash director shows confidence in company with on-market purchase
Non-executive director Len Jubber has acquired 100,000 shares following the purchase of 387,290 shares by managing director Dr Chris Gilchrist.
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.
South Harz Potash Ltd (ASX:SHP) is well-positioned to become a leading European supplier of choice as it progresses its large potash resource in the South Harz region of Germany.
The company is building Western Europe’s largest potash inventory and aims to become a world-class potash producer through the development of all or some of its projects.
SHP managing director Dr Chris Gilchrist said: “The company is on track to complete a short drilling program in advance of issuing an updated mineral resource estimate and technical and economic study by the end of 2021.
Significant potash resource
The company s portfolio of licences represents Western Europe’s most significant potash resource, comprised of high-grade Muriate of Potash (MOP) inferred mineral resources (JORC 2012) and valuable potassium and magnesium sulphate minerals at relatively shallow depths.
Davenport Resources gears up for drilling of German potash projects with name change proposed
Funds from a recent capital raising will be used to conduct resource drilling and complete a scoping study for the Ohmgebirge Project. The company will appoint and mobilise drillers to Ohmgebirge once a drilling permit has been issued.
Davenport Resources Ltd (ASX:DAV) (FRA:D86), which proposes to be renamed South Harz Potash Limited in line with its focus on potash in Germany, has enjoyed a productive March quarter.
During the quarter, the company conducted a successful media campaign in Germany where it received encouraging high-level political feedback as well as grassroots support from the South Harz community.