Aim-listed Oriole Resources (LON: ORR) revealed that its CEO, Tim Livesey, upped his stake in the company, causing its shares to rise on Thursday.
The Oriole chief executive acquired 1,237,905 shares of the company for 0.52p per share, representing 0.08% of the issued share capital.
Livesey now owns 10,382,662 shares following the purchase, representing 0.66% of Oriole's total voting rights.
The purchase follows on from a flurry of recent news in the past couple of weeks that have seen it report:
- Excellent year 4 RC drilling results at the Senala joint venture
- Assay results from its district-scale licence package in Central Cameroon
- A JORC-compliant resource estimate of 155,000 ounces of gold grading 1.26 grams a tonne of gold at the Senala Project
- And, its interim results for the six months ended June 30
Oriole's shares are currently up over 10% at 0.53p. However, they are still trading in a range that began during July.
Should you invest in Oriole Resources shares?
Oriole Resources shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are ORR shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies