Kingwest Resources directors support company by participating in non-renounceable entitlement issue

Kingwest Resources Ltd (ASX:KWR) directors have demonstrated their faith in the company by participating in the non-renounceable entitlement issue announced on August 25. After completing the underwritten entitlement offer, the company raised $3.3 million to fund drilling at the Menzies Gold Project (MGP) and the Goongarrie Gold Project (CGP). Change of director’s interests Non-executive director Jonathan Downes has acquired 110,000 shares worth $14,850 on Spetember 18 in an indirect interest, increasing the total number of securities held in that interest to 1.11 million shares with another 165,000 in a direct interest and a further 318,334 in another indirect interest. Non-executive director Steve Brockhurst acquired 40,000 shares in a direct interest, increasing the total number of securities held to 240,000 shares. Kingwest welcomed new domestic and international institutional shareholders to the company’s register following the placement. The new shares are expected to be issued on or about September 24.