Independent Director of Lavras Gold Rostislav Raykov Buys 3.8% More Shares

Lavras Gold Corp. (CVE:LGC) has seen a significant increase in insider buying activity, with independent director Rostislav Raykov recently acquiring an additional 245,600 common shares. This purchase, valued at CA$610k, represents a 3.8% increase in his holdings, bringing his total stake to approximately 10.42% of the issued and outstanding common shares on an undiluted basis and 10.89% on a partially diluted basis. This move signals a vote of confidence in the company's prospects and its current share price.

Raykov's decision to increase his stake in Lavras Gold comes amidst a series of positive exploration updates and gold discoveries. The company has recently reported intersecting 2.9 g/t gold over 59 meters at the Fazenda do Posto Gold Target, 1.4 g/t gold over 236 meters from surface at the Butiá Gold Deposit, and 1.0 g/t gold over 173 meters from 69 meters at the Fazenda do Posto Gold Discovery. These discoveries suggest that Lavras Gold is making significant progress in its exploration efforts and has the potential for substantial gold reserves.

Insider buying activity, such as Raykov's recent purchase, can be seen as a positive signal to the market. It indicates that insiders have confidence in the company's prospects and believe that the current share price represents good value. Additionally, the fact that insiders have been buying more shares than they have been selling over the last year is another positive sign. This suggests that insiders are willing to invest their own money in the company's shares, with the average price at which insiders have been buying shares being CA$1.77, well below the current share price of CA$2.50.

In conclusion, Rostislav Raykov's decision to increase his stake in Lavras Gold Corp. reflects positively on the company's prospects and the market's perception of its value. The recent exploration updates and gold discoveries, combined with the insider buying activity, suggest that Lavras Gold has significant potential for growth and value. As an independent director, Raykov's investment in the company signals confidence in its future and can instill confidence in other shareholders.