Western Areas chairman pockets $2m

A company with an indirect interest to Western Areas chairman Terry Streeter has pocketed nearly $2 million from the on-market sale of the miner's shares over the past four days.

In a notice to the Australian stocks exchange, Jungle Creek Gold Mines sold 611,068 ordinary shares for $1.86 million.

Shares in Western Areas closed down five cents to $2.87 today.

Jungle Creek now holds 30.82 million shares in Western Areas.