BLACKGOLD’S CHAIRMAN PURCHASES 180,000 SHARES OF COMPANY’S SHARES ON THE OPEN MARKET
- Chairman signals strong confidence in the BlackGold Group through purchase of shares from the open market
- Number of shares held by Chairman increases to 37,176,294 shares, equivalent to a 3.99% shareholding in the Company
Singapore, 17 August 2017 – BlackGold Natural Resources Limited (the “Company”, and together with its subsidiaries, the “Group” or “BlackGold”) is pleased to announce that Mr Intekhab Khan, the Independent Non-Executive Chairman of the Group, had on 15 August 2017 purchased a total of 180,000 ordinary shares of the Company through Kaalasona Limited, a shareholder of the Company (the “Purchase”). This Purchase further increases his shareholding to 37,176,294 shares, accounting for approximately 3.99% of the Group’s entire issued share capital.
“The recent developments on the planned 2 x 300 MW project with China Huadian Engineering, Co. Ltd. and the ongoing coal sales to Indonesia state-owned enterprises have been very encouraging. I am positive about the Group’s future, even more so because of the threefold increase in Coal Reserve estimates at the PT Samantaka Batubara mining concession.” commented Mr Intekhab Khan. “This substantial increase in Coal Reserves, as reported in the 2016 independent qualified person’s report, is further testament to the immense potential of the Group.”