Dominion Mining chairman Peter Joseph has sold over $8 million worth of shares, reducing his stake in the gold miner by 14 per cent.
Dominion Mining chairman Peter Joseph has sold over $8 million worth of shares, reducing his stake in the gold miner by 14 per cent.
In a notice to the Australian stock exchange, Mr Joseph sold over 1.7 million on the market over the past three trading days at an average price of $5.02 per share.
Shares in Dominion closed up 10 cents to $4.90 today.
At the end of the transaction, Mr Joseph held a 9.2 per cent stake in Dominion, which is mining gold at its Challenger operation in South Australia.
Mr Joseph, who has been a shareholder of Dominion for 28 years, said the sale was a chance to re-balance his personal portfolio, which was heavily weighted towards gold.
He added that it was a good time to be in gold and said he had total confidence and support for Dominion.
The spot price of gold closed at $US942.30 per ounce today.
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