Streeter in Western Areas selling spree

Western Areas chairman Terrence Streeter has continued to sell down his shares in the nickel miner, today revealing he pocketed nearly $2.7 million from the sale of 782,697 shares.

Over a period of five days starting December 15, Mr Streeter notified the stock exchange that he sold the shares on market for an average of price of $3.45.

Over the past couple of months, Mr Streeter has sold around $6.8 million worth of Western Areas shares through his company Jungle Creek Gold Mines, nearly reversing his buying spree of $7 million worth of stock in August.

Jungle Creek's stake in Western Areas now stands at 17.93 per cent, down from 19.35 per cent.

Shares in Western Areas closed unchanged at $3.16.