Tungsten West plc chief financial officer and director Philip Povey has become interested in 3,662,100 ordinary shares, of one pence each in the company, following mandatory conversion of £109,863.01 convertible loan notes.
MINE
The company said that the conversion, at three pence per ordinary share, is through Umbrella Mountain Ltd, which Mr Povey controls.
He is now the ultimate beneficial owner of 2,995,305 of the ordinary shares, representing 0.39% of Tungsten West.
The company is preparing to restart production at the Hemerdon tungsten-tin mine in Devon, southwest England.