Mining and exploration firm Madison Metals executive chairperson and CEO Duane Parham has increased his investment in the company, acquiring a further 233 000 shares on the open market.
Prior to the acquisition, Parnham held 1.89-million shares and he now holds 2.12-million shares, representing 10.6% of the company’s common shares on an undiluted basis.
“The current course of Madison Metals’ development reminds me of 2007. That year, uranium prices soared to $140 per pound, and my small uranium company at the time catapulted to a C$860-million market cap from its start-up status. Given the calibre of our uranium assets, the management team’s track record in asset development, and the tailwinds in the overall uranium market, I have confidence in the direction and value of Madison,” Parnham said.
Madison focuses on sustainable uranium exploration and production at its flagship assets in Namibia.