Kirkland non-exec purchase
A round-up of the biggest director deals today so far.
Non-executive director George Milton has invested £122,000 in Canadian gold miner Kirkland Lake Gold Inc as part of its C$32m placing.
Milton bought 25,000 shares at 487.42p (C$8.25) each. The share price has dipped well below the placing price in the past few weeks. Each share comes with one-third of a warrant to subscribe for an additional share at C$10. The shares are quoted on AIM and listed on the TSX.
Kirkland says that the net proceeds will be used for "working capital and general corporate purposes". Kirkland had C$49.7m in cash at the end of October 2009. It intends to spend cash on development so that it can increase its production.
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Kirkland has five gold producing properties around Kirkland Lake, Ontario, which were acquired in December 2001.
Kirkland lost more than C$10m in the three months to October 2009. It was hit by the collapse of a borehole. At the time that the figures were announced the chairman said that Kirkland "will return to its longer term plans of producing 1,400 to 1,500 tons of ore per day by early 2012".
Top Director Buys
Kirkland Lake Gold (KGI) Director name: Mr George A MiltonAmount purchased: 25,000 @ 487.42p Value: £121,855
GlaxoSmithKline (GSK) Director name: Mr Andrew P WittyAmount purchased: 8,193 @ 1,212.00p Value: £99,299
DCC (DCC) Director name: Mr J.J. MoloneyAmount purchased: 2,000 @ € 20.60 Value: € 41,200
Unilever (ULVR) Director name: Mr Paul S WalshAmount purchased: 1,000 @ 1,857.00p Value: £18,570
International Biotech Trust (IBT) Director name: Mr Alex Hammond ChambersAmount purchased: 10,000 @ 126.80p Value: £12,680
GlaxoSmithKline (GSK) Director name: Mr Simon BicknellAmount purchased: 1,000 @ 1,212.00p Value: £12,120
Top Director Sells
Character Group (CCT) Director name: Mr Joe KissaneAmount sold: 440,000 @ 105.00p Value: £462,000
Character Group (CCT) Director name: Mr Richard KingAmount sold: 140,000 @ 105.00p Value: £147,000
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