hegarty swoops on tigers realm coal

Great buying at these prices..

http://www.theage.com.au/business/hegarty-swoops-on-tigers-realm-coal-20111229-1pdie.html


Hegarty swoops on Tigers Realm Coal- Eli Greenblat
December 29, 2011 - 11:21AM

Resources and mining entrepreneur Owen Hegarty has taken advantage of a near 50 per cent collapse in the share price of newly listed company Tigers Realm Coal to scoop up 500,000 shares in the junior explorer.

Mr Hegarty, who is a director of Tigers Realm Coal and was the founder and chief executive of Oxiana, has issued a change of directors interest to the ASX showing he has topped up his holding in the coal play.

According to the notice, Mr Hegarty dipped into the market to buy Tigers Realm Coal stock on December 22, 23 and 28 when the share price traded between 25 cents and 27 cents. He purchased a total of 500,000 shares for $127,990 - giving him an average purchase price of 25.6 cents per share.

The recent buying adds to his existing parcel of 12.934 million shares in Tigers Realm Coal held through a private company called Shimmering Bronze Pty Ltd. He also owns 4.315 million options.

Tigers Realm Coal is developing two coking coal projects, the Amaam Coking Coal Project in Far Eastern Russia and the Landazuri Coking Coal Project in Colombia.

The company was floated on the market in August with shares offered under the initial public offer at 50 cents each. The share price has fallen nearly 50 per cent since the listing.

Earlier this month Tigers Realm Coal reached agreement to acquire an 80 per cent interest in the Amaam North coking coal deposit, 30km north of the existing Amaam Coking Coal Project in eastern Russia.

The acquisition of the 478 square km Amaam North tenement increases the company’s total tenement area to 709 square km in the highly prospective Bering Coal Basin.

Shares in Tigers Realm Coal were trading at 27 cents around noon.