After entering the market on Wednesday, the finance boss of African Barick Gold Kevin Jennings has purchased shares for the second day in a row, bringing his total to 35,000, equal to a 0.0085% share in the company.

Jennings bought 10,000 shares at 490.7p and the same amount at 495p.

He has been a member of the board since August 2009 and has worked in a variety of senior positions within the mining industry over the past ten years.

The company, which is Tanzania's largest producer of gold, recently reported a 54% increase in its net profit for the second quarter of the year, to $69.77m (£42.8m).

Revenues soared by 39% to $311.76m, while operational cash flow improved to $186m, an increase of 18% on that for the first half of 2010.

African Barrick recently indicated that it retains a positive outlook on the back of strong gold prices, despite economic conditions as a whole remaining uncertain. Gold is often valued as a safe investment in volatile times.

The company recently indicated that all of its operating mines have performed in line with expectations for the first half of the year and announced that it has doubled its interim dividend to 3.2 cents per share.


Top Director Buys

African Barrick Gold (ABG)
Director name: Mr Kevin Jennings
Amount purchased: 10,000 @ 495.00p
Value: £49,500

African Barrick Gold (ABG)
Director name: Mr Kevin Jennings
Amount purchased: 10,000 @ 490.70p
Value: £49,070

Anite (AIE)
Director name: Mr Christopher Humphrey
Amount purchased: 25,000 @ 63.50p
Value: £15,875

Sacoil Holdings (DI) (SAC)
Director name: Mr Colin Bird
Amount purchased: 250,000 @ 5.45p
Value: £13,625

Avisen (AVI)
Director name: Mr Marcus Yeoman
Amount purchased: 200,000 @ 5.20p
Value: £10,400

Related share prices
Anite (AIE) share price
Avisen (AVI) share price
African Barrick Gold (ABG) share price
Sacoil Holdings (DI) (SAC) share price