Last Friday, Infinity Lithium Corporation Ltd’s [ASX:INF] managing director and CEO Ryan Parkin purchased an additional 134,000 shares, valued at $9,968, via an on-market trades.
This has increased his overall holding in the company to 223,182 shares.
Infinity Lithium’s share price is sitting at $0.078 with the change of director’s interest notice, but has been steadily rising over the last six months of trading.
This is also on the back of INF’s recent commitments to raise $1.5 million from a share placement.
Infinity Lithium secures $1.5m to complete PFS
Last week, Infinity announced a commitment to raise $1.5 million from a share placement. To do so, the company will issue around 21.43 million shares at an issues price of $0.07 per share.
In the recent announcement, infinity’s London-based chairman, Kevin Tomlinson, said:
‘It is pleasing to see commitment from management and the introduction of key European shareholders through this placement.
‘I believe this reflects the increasing transition to European based management and financial support as the San Jose Lithium Project develops.
‘The placement brings the benefit of funding the company for the next phase of its growth and raising the profile of the company both domestically and internationally.’
The funds will mainly go towards the completion of the pre-feasibility study (PFS) on INF’s flagship San Jose Lithium Project in Spain, which is expected to be completed by July this year.
The PSF will work alongside the November 2018 scoping study, which valued the project up to US$1.017 billion.
Infinity Lithium’s Share Price outlook
Over the last six months, Infinity Lithium’s share price has been increasing. However, if we look back over the last year, it’s a bit of a different story.
Shares of infinity have been a little turbulent, but this is typical of a company mining something as lucrative as lithium.
For Money Morning
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