Richland Resources non-exec buys half a million shares

Non-executive director of Richland Resources Nicholas Sibley bought half a million shares at 8.25p each, for a total of £41,250.

The purchase brings his total number of shares to 6.6m, equivalent to a 5.71% stake.

The 73-year-old previously snapped up shares in the firm in September, when he bought 100,000 at 8.75p, for £8,750.

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In August the gemstone producer and developer announced that it had almost tripled its half-year pre-tax profits to $2.168m, while revenues increased 21%, rising to $10.4m.

At 8.62p, the group's share price currently sits near the lower end of its 52 week range, which has fluctuated between 7.75p and 16p.

Sibley was formerly chairman of Wheelock Capital from 1994 to 1997 and a former managing director of Jardine Fleming Holdings. He is presently chairman of Aquarius Platinum and a director Asia Pacific Fund.

Top Director Buys

Richland Resources Ltd (RLD)

Director name: Mr Nicholas T Sibley

Amount purchased: 500,000 @ 8.25p

Value: £41,250

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