South Boulder Mines (ASX:STB) managing director Paul Donaldson...

South Boulder Mines (ASX:STB) managing director Paul Donaldson has acquired 48,334 shares in an on market purchase.

He paid a total of $12,567, or an average of $0.26 each, for the shares. This brings his total holding in the company up to 200,000 shares.

Donaldson also holds 4 million unlisted options in four tranches.

South Boulder had yesterday completed and submitted the first phase of environmental baseline assessments for its Colluli Potash Project in Eritrea, the first step towards securing a mining licence.

It had in late July attracted a $1.8 million investment from Hong Kong based Kam Lung Investment Development Company.