Waratah Resources (ASX:WGO) chairman Ben Kirkpatrick and director Philip McNamara have acquired shares of the company in on-market trades.
McNamara acquired 800,000 shares priced at $0.02 each on 5 August 2014 and a further 200,000 shares at $0.02 the following day, or a total of 1 million shares for $20,000.
Kirkpatrick bought 400,000 shares at $0.02 each, or a total of $8,000, bringing his total holding up to 7,373,089 shares.Waratah shares closed yesterday at $0.022.
He also holds 5 million options exercisable at $0.075 on or before 18 December 2015 and another 5 million options exercisable at $0.10 on or before 18 December 2015.
The company had early this month sold a 55,000 tonne trial cargo of thermal coal from South Kalimantan, Indonesia, to an international coal trading company that could lead to a series of further revenue generating transactions.
This highlights the strong business relationship it has developed over the past nine months with its Indonesian partner for supply of thermal coal from a long term producing mine.
It is also a key step in its goal of establishing a steady revenue stream from commodities trading and related activities.
