It may be the biggest vote of confidence a CEO can make on his or her own company’s fortunes, and Orosur Mining (TSX:V.OMI
, Stock Forum
) CEO Ignacio Salazar just made it.
Salazar has purchased 200,000 shares
in his employer at $0.24 per share, bringing his total stake to a not unimportant 373,000, or 0.48%, of all shares outstanding.
Investors liked the move, sending Orosur stock prices up $0.05, or 20.8%, to $0.19 in Thursday trading.
Orosur operates the San Gregorio mine, the only producing gold mine in Uruguay, and has a portfolio of assets in Uruguay and Chile.
Orosur shares have been largely flat in price over the second half of 2013 but have risen nearly 50% since January 1 as the company added to the executive team
, sold a project in Chile
, and posted strong production numbers and an increased reserve