The investment company which Capricorn Metals (ASX: CMM) director Timothy Kestell is a director and substantial shareholder of bought nearly $700,000 in Capricorn shares in a recent $6.9 million capital raising.After Neon purchased $903k in April, both on market and in the placement ($707k between April 9-12, $131k between April 15-17 and $65k on April 26), its most recent purchase takes its purchases in the last month to $1.6 million.While Capricorn’s capital raising was completed in April, it only raised $4.6 million. The shortfall was made up through issuing ‘top up shares’ and a $1.7 million underwriting. A Directors’ Interest notice filed with the ASX last night reveals Neon made up 40 per cent of that.The notice also reveals Neon owns 31.4 million shares, which at Capricorn’s current share price of 8.7 cents would be worth over $2.7 million. Shares are up 64 per cent since December.
NEN Price at posting:
22.0¢ Sentiment: Hold Disclosure: Held
