Triton Minerals managing director exercises options

Triton Minerals’ (ASX:TON) managing director Brad Boyle has increased his interest in the company by 300,000 shares after exercising $30,000 worth of unlisted options at $0.10 each.Shares in TON are currently trading at $0.305.Boyle now has a direct interest in 5,813,038 shares. He also has 3 million performance rights that expire on 20th August 2018 with conversion subject to milestones.He previously exercised 100,000 options in March.Earlier this month, it added its Ancuabe project to the due diligence for funding agreement from Chinese equity firm and resources trading company Shenzhen Qianhai Zhongjin Group Co., Ltd, due to queries from the Ministry of Commerce & Ministry of Land and Resources.A positive outcome from this expanded due diligence process may allow Triton to access additional capital from SQZG to develop the project in Mozambique.In April, SQZG agreed to provide funding of up to US$200 million (A$255 million) under the letter of intent to build and develop a graphite concentrate operation with initial capacity to produce up to 200,000 tonnes of graphite concentrate per year from Nicanda Hill.This included an off-take agreement with an initial term of 10 years at 200,000 tonnes of graphite concentrate per year.Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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