Giorgetta sells $9m Equigold shares

Nick Gorgietta has decreased his interest in Equigold NL through the sale of 5 million shares worth $9.2 million to complete the process of his transition from managing director to chairman.

Mr Gorgietta now holds 20 million shares in the Applecross-based gold mining company, evaluated at $43 million on the announcement day.

He said he has no intention to sell further shares in teh next twelve months.

Mark Clark is replacing him as managing director.