Tsodilo Resources director buys more shares
According to Canadianinsider.com which tracks stock purchases and sales by insiders of a company, Tsodilo Resources (TSD.V) director David Cushing has accumulated in excess of 25,000 shares of Tsodilo over the past month. This is obviously a great vote of confidence to see a substantial insider buy.
Tsodilo is currently trading at C$1.72/share, up 149% since our first alert on Tsodilo on January 7th when the share price was C$0.69. This share price increase was undoubtedly caused by the announcement of a 5-7 billion tonnes exploration target at the company’s Xaudum iron ore project in Botswana. Even though confirmation drilling is ongoing (with an initial resource estimate expected shortly), we consider Xaudum to be Tsodilo’s flagship project as metallurgical test work has confirmed the end-product could have a grade of 68%Fe.
We will release a Q&A report with CEO James Bruchs shortly.
Disclosure: The author holds no position in Tsodilo Resources. Tsodilo Resources is not a sponsor of the website, but we were compensated by a third party to start coverage. Please see our disclaimer for current positions.