Mirabela chairman sells $6.5m shares

Entrepreneur and minerals explorer Bill Clough has cashed in a large pile of Mirabela Nickel shares, pocketing more than $6.5 million through an on-market sale.

Mr Clough, who serves as chairman of Mirabela, notified the local stock exchange he had sold 2 million shares on Friday for $3.27 each, a slight discount to the company's closing price that day of $3.30.

He raised $6.55 million from the sale and is left with 6 million Mirabela shares.

Meantime Lycopodium director Robert Osmetti has netted nearly $1.6 million from the sale of 495,650 shares through on- and off-market trades.

The sale reduces Mr Osmetti's shareholding from 8.32 per cent to 6.85 per cent.