Northern Star directors beef up stakes

Two directors of Northern Star Resources have taken advantage of the company’s weak share price to increase their holdings (reports MiningNews).
30th September 2021

Two directors of Northern Star Resources have taken advantage of the company’s weak share price to increase their holdings (reports MiningNews).

Non-executive director Sally Langer spent A$99,702 on 11,460 shares at $8.70 per share, to take her holding to 13,760 shares.

Fellow director John Richards picked up another 5000 shares at $8.92 per share for $44,600, increasing his stake to 15,558 shares.

Shares in Northern Star are trading at a two-and-a-half-year low as the market shuns gold equities.

The stock even briefly dropped below $8 yesterday.

Two weeks ago, Northern Star managing director Stuart Tonkin and then-executive director Raleigh Finlayson spent up big on shares in on-market purchases.

Tonkin paid $468,632 for 50,000 shares at an average of $9.37 per share.

He holds just under 1.1 million shares in the gold miner.

Meanwhile, Finlayson spent $958,918 on 100,000 shares at $9.59 each and now holds roughly 2.3 million shares.

Finlayson has since stepped down from the Northern Star board and is in the US completing a six-month advanced management program at Harvard.

He will re-join the Northern Star as a non-executive director in early April 2022.

It was also announced last week that Finlayson will invest $7 million in Genesis Minerals and become its MD in March 2022.

Northern Star is also investing $3 million.

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