Richmond Hill Resources (RHR ) has revealed a share purchase by Hamish Harris, a director of the company.
Harris bought 1,700,000 ordinary shares at a purchase price of 1.16 pence per share.
Following the transaction, Harris’ interest in Richmond Hill has increased to 3,440,755 shares.
His current holding represents 0.58% of the company’s share capital.
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Director buying can be a simple but useful signal for investors, particularly when it adds meaningfully to an existing holding. In this case, Harris has increased his stake to just over half a % of the company, which may be taken as a modest expression of confidence at the current share price.