The Executive Chairman of junior minerals explorer Marmota (ASX: MEU), Dr Colin Rose, has announced he will present a special gift to number of employees to help celebrate the recent drilling success.
“I am delighted with the exploration success that Marmota is achieving at our new gold discovery at Aurora Tank,” Dr Rose announced to the ASX.
“That success is not just luck – it is due to the hard work of our Board and the hard work of our employees. The Company is also in its strongest financial position in years.
“Some of our key employees (who are not on the Board) do not currently have any shares in the Company.
I have decided today to gift 1 million of my personal shares (all of which I have purchased on-market myself) to three key employees in the company as a token of my personal thanks. The gift is a personal gift, at no cost to the Company, and is not dilutionary in any way.
“One of the reasons for making this gift is because I would like to see our employees enjoy and share in the fruits of the Company, and in its future growth. To that end, I note that the Company is expecting the first detailed one metre assays from the January 2020 drilling programme at Aurora Tank in around two to three weeks.”
Shares in Marmota jumped from below $1.05 to a peak of around $4.30 in mid-February following a number of drilling successes, including the new NW flank discovery at the Company’s Aurora Tank Gold Project in South Australia.