Canadian Gran Colombia Gold Corp. (TSX:GCM), the largest underground gold and silver producer in the South American country, announced that senior managers and members of the board of directors have purchased a combined 380,000 common shares of the company.
CEO Maria Consuelo Araujo and Executive Co-Chairmen, Serafino Iacono and Miguel de la Campa bought 120,000, 130,000 and 130,000 shares respectively, paying an average price per share of $0.321, $0.310 and $0.310. The shares were purchased between August 23 and August 27, 2012 on the open market.
The Toronto-based miner has several underground mines in operation at its Segovia and Marmato sites in Colombia. In addition, it is advancing a project to develop a large-scale, gold and silver mine at its Marmato operations.
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