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Director dealings: Landore Resources finance director raises stake

(Sharecast News) - Landore Resources revealed on Monday that finance director Glenn Featherby had acquired 500,000 ordinary shares in the AIM-listed exploration and development company. Featherby, who was previously the chairman of Forte Energy NL, purchased the shares on Friday at an average price of 8.43p each, for a total value of £42,130.

Following the transaction, Featherby holds an interest in 3.72m ordinary Landore shares, representing approximately 3.05% of the company's issued share capital.

Earlier in October, Landore announced an agreement to sell its lithium prospects within the Junior Lake Project to the ASX-listed Green Technology Metals. Under the agreement, GT1 will give Landore Resources Canada, a wholly-owned subsidiary of Landore Resources, a cash sum of CAD 1.0m (£600,000). Additionally, a share-based consideration would see the issue of 1.62m new shares in GT1 to Landore Resources.

As of 1515 BST, Landore shares were up 2.02% at 8.82p.

Reporting by Iain Gilbert at

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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