Magellan Gold Corp (OTCMKTS:MAGE) major shareholder John D. Gibbs bought 5,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The stock was purchased at an average cost of $0.02 per share, with a total value of $100,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Magellan Gold stock opened at $0.02 on Friday. Magellan Gold Corp has a one year low of $0.01 and a one year high of $0.06.
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About Magellan Gold
Magellan Gold Corporation, an exploration stage company, engages in the acquisition and exploration of mineral resources in Arizona, California, Nevada, and Mexico. The company explores for silver, lead, and zinc deposits. It holds an interest in the Silver District project area that consists of 87 unpatented lode mining claims, 6 patented lode claims, an Arizona State Exploration Permit of 334.85 acres, and 23 unpatented mill site claims covering an area of approximately 2,000 acres located north of Yuma in southwest Arizona.
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