Directors’ Interests

Doray Minerals managing director Alan Kelly and technical director Heath Hellewell have exercised options to acquire shares at 20 cents each, and sold some shares on-market. Mr Kelly has exercised 3 million 20-cent options to acquire shares in the WA gold explorer at a cost of $600,000, and disposed of 2 million shares at $1.30 each to realise $2.6 million. He now has a stake of about 10 million shares in Doray Minerals currently worth $13.2 million. 

Mr Hellewell has exercised 2 million options at a cost of $400,000 on the same day, and sold 1 million shares at $1.30 each to raise $1.3 million. With the company’s shares currently trading at $1.32, his stake of 5 million shares is worth $6.7 million.

These transactions have added $1 million to Doray’s cash reserves. Mr Kelly and Mr Hellewell’s combined holding in the company has increased from 17.5 per cent to 18.6 per cent. Doray Minerals is currently developing the Andy Well gold project in the Murchison region of WA, and has recently reached an in-principle agreement with the Yugunga-Nya native title claimant group, which paves the way for the grant of the mining lease application over the project.