Moly Mines CEO Derek Fisher Boosts Stake By Exercising Options
Derek Fisher, managing director and CEO, of Moly Mines (ASX/TSX: MOL), has increased his stake in the company by exercising some unlisted options.
Fisher acquired 520,000 shares at $0.40 by exercising options, and sold 220,000 shares at $1.10 to fund the options.
Therefore Fisher sold $242,000 of stock and spent $208,000 on the options.
Fisher now holds 1,403,600 shares, which includes 973,600 through Trillium Investments Pty Ltd, 130,000 through Regans Ford Estate and 300,000 through Cytra Services Pty Ltd.
Based on the last Moly traded price of $1.04, this stake is valued at around $1.46 million.
Fisher also holds 780,000 unlisted options exercisable at A$1.40 per share, vesting 30 June 2009, expiring 31 December 2010.
Earlier in the month, Moly began iron ore production at Spinifex Ridge, which is located 50 kilometres northeast of Marble Bar in the Pilbara region of Western Australia.
E.
MOL Price at posting:
$1.01 Sentiment: Buy Disclosure: Held
