Trading Places: The gold stock that just won over Tolga Kumova as a substantial holderThe most notable of substantial holder buys this fortnight came from Melbourne-based resources investorTolga Kumova.
He upped his stake inFirefly Resources (ASX:FFR)to 6.55 per cent. He bought 6.6 million shares at 15 cents a pop – worth $990,000 – in the WA gold explorer’s recent capital raising. Kumova’s buy came only two months after he first bought into Firefly.
While there’s no shortage of gold success stories in 2020, few reported higher grades thanFirefly’s ‘bonanza’ hit of 1,439.55 grams per tonne last month.
The company said the $6m deal would help it step up exploration activities and define aJORCresource by years’ end.
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