Tertiary Minerals, the AIM-listed company focused on the identification, acquisition, exploration and development of mineral projects in the fluorspar sector, announced last week that its Managing Director, Richard Clemmey, had purchased a further 131,533 ordinary shares at a price of 1.5p. Following the acquisition, Mr Clemmey has a total beneficial holding of 504,037 ordinary shares representing 0.233% of the Company’s issued share capital.
Our view: We are encouraged with the continued commitment of Tertiary’s Board as the Company aims to become a long term supplier of high quality fluorspar. We look forward to progress updates from the MB fluorspar project in Nevada as well as progress on the permitting application at its Storuman project in Sweden. In the meantime, we reiterate a Speculative Buy on the stock.
Beaufort Securities acts as corporate broker to Tertiary Minerals plc