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Tuesday, 9th September 2008 (1889 views)

The chief executive and majority shareholder of gold mining firm Tao Minerals has purchased an extra million shares in the company.

James Sikora said the decision was an expression of his confidence in the organisation.

"I am extremely excited about the significant progress we have made and are currently making, toward the start-up of mining operations," he commented.

He added that the business had "excellent prospects" and praised the quality of its landholdings.

Mr Sikora's original share ownership has been boosted by the new acquisitions, and he may purchase additional shares in the future.

Tao owns two gold projects in Colombia - the El Colmillo gold mine and the Golondrina property, where exploration is needed to confirm estimated high grade gold deposits.

El Colmillo is located in the river basin of La Blanquita, a tributary of the Nechi River in eastern Antioquia. It covers an area of 296 hectares, according to the company website.

 

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