It looks like Mr Davis, who is a very experienced mining executive has also backed his comments made about SPX's future prospects with on market purchases of 4,000,000 shares in his Super Fund. That's a real endorsement for me, having skin in the game in the full knowledge of VMC's claim. On recent price action that might be close to $300k he has invested. Taking up a Board seat he must have done his due diligence on the risks of this case and buying shares also shows his judgement call that he feels this will go SPX's way.
Those comments from him in the ASX release are vey confident IMO. I know it's been said before but to reflect on this move by him gives me increasing confidence that we are on a winner with SPX.
Commenting on his appointment Mr Davis said “I am pleased to be joining the board of Spectrum at such an exciting time with the discovery of the Penny North gold deposit. The metrics of the deposit are first class on a global scale which will ultimately become a long life, high grade, low cost gold operation. Based on the drilling success to date I am confident that the Penny North deposit will grow rapidly and the exploration upside across the tenement holding will be realised”.
SPX Price at posting:
7.7¢ Sentiment: Hold Disclosure: Held
