24/03/2009 - 16:15

Dominion chairman sells $8m in shares

24/03/2009 - 16:15

Bookmark

Upgrade your subscription to use this feature.

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 chairman sells $8m in shares

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.

 


STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options