This was his last top up announcement - very interesting timing on this new top up?
Mining entrepreneur Kerry Harmanis has topped up his holding in junior gold explorer Gateway Mining (ASX:GML) as part of the recent $2m capital raising. This will cement his position as the company’s second-biggest holder with a 10 per cent stake. Harmanis, a former lawyer, is the founder and executive director of Jubilee Mines – a successful gold producer he sold to Swiss mining heavyweight Xstrata in 2007 for $3 billion. That sale netted him a hefty $500m payday. Harmanis, who was born in Adelaide to Greek parents, is among Australia’s 200 wealthiest people and has again made it on the AFR’s Financial Review Rich List with a worth of $609m in 2019, according to the Greek City Times. (The complete Financial Review Rich List is not due out until the end of May.) Harmanis got into Gateway, which has a market value of about $13.1m at a share price of 1.4c, about a year ago after he took up some of the shortfall from a rights issue.
GML Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
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