Black Rock Mining directors demonstrate confidence graphite strategy

Black Rock Mining Ltd board of directors demonstrated confidence in the company’s Tanzanian graphite strategy by participating in the rights offer announced on July 3.
The company’s flagship Mahenge Graphite Project is spread across 324 square kilometres of exploration tenements in Tanzania’s Ulanaga district.
Several milestones have been passed lately on the road towards development at Mahenge.
The rights offer capped at $1.65 million resulted in applications from existing shareholders for shares valued at more than $2.4 million.
Funds will be allocated to the development of Black Rock’s Mahenge Graphite Project in Tanzania.
Black Rock chief executive officer and managing director John de Vries acquired a total of 252,121 shares at 4.2 cents each, increasing the total number of securities held after the change to more than 4.286 million.
Non-executive director and company secretary Gabriel Chiappini purchased 424,555 shares, increasing his total number of securities held after the change to more than 7.317 million.
Chairman Richard Crookes has acquired 213,079 shares, increasing the total number of securities held after the change to more than 2.918 million.
Non-executive director Ian Murray has purchased 362,151 shares, increasing his total number of securities held after the change to 6,156,571 shares.