Ivanhoe Mines Ltd.’s Kamoa-Kakula mine commenced phase 1 commercial copper concentrate production this month, 24 years after initial exploration on the property. While phase 1 is expected to produce approximately 200,000 tonnes of copper a year, once the full expansion is complete the mine is expected to reach peak production of 800,000 tonnes a year. Ivanhoe has a 39.6-per-cent stake in the project. As production became a reality, insiders were buying. Between May 19-21, two directors bought 32,500 shares at an average price of $8.61.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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