KalNorth Gold Mines directors, including chairman Laurence Freedman, have participated in a one-for-five non-renounceable rights issue priced at 26 cents per share, which was announced to the market in early September. Mr Freedman has acquired 4.26 million shares at a cost of $1.1 million, increasing his stake in the gold hopeful to 25.4 million shares currently worth $6.7 million. The company has recently changed its name from Carrick Gold, to reflect the geographic location of its Kalgoorlie tenements. The company aims to commence mining in January 2013.
© Business News 2017. You may share content using the tools provided but do not copy and redistribute.