Avanco Resources chairman Matthew Wood has exercised 6.2 million options to acquire shares in the company at a cost of 1.5 cents each, to increase his shareholding in the Brazilian-focused metals explorer to 24.1 million shares. With Avanco shares trading at 9 cents each, his stake is worth close to $2.2 million. Executive director Scott Funston and managing director Anthony Polglase have also exercised 1.5-cent options to acquire 371,289 and 80,000 shares, respectively.
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