Insider Trades: Directors are buying shares in these 13 ASX companies
Directors from Genesis Minerals, Galan Lithium and Tamboran Resources bought shares this week.
Source: iStock
Mentioned
KEY POINTS
- Tietto Minerals Non-executive director Francis Harper offloads some shares as the company hits production status
- Genesis Minerals insiders begin to nibble after acquiring St Barbara's Leonora assets
- Galan Lithium MD Juan Pablo de la Vega buys shares as the stock hits a 2-year low
Welcome back to the Insider Trades Series – A summary of on-market director transactions valued at more than $10,000.
The flow of director transactions has been rather sluggish ever since the last week of FY23. Insiders might also be facing blackout periods ahead of August reporting season.
We typically separate large and small cap trades but given the lack of volume – We’re merging the data into one table. The below refers to trades made between 17-10 July.
Top Insider Trades
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Tietto Minerals | 11/07/23 | Francis Harper | Sell | $0.50 | $373,500 | |
Genesis Minerals | 11/07/23 | Michael Wilkes | Buy | $1.19 | $200,239 | |
Galan Lithium | 14/07/23 | Juan Pablo de la Vega | Buy | $0.91 | $90,918 | |
Tamboran Resources | 10/07/23 | David Siegel | Buy | $0.17 | $85,000 | |
Caspin Resources | 7/07/23 | Sze Man Suen | Sell | $0.23 | $51,980 | |
Qualitas | 10/07/23 | Andrew Fairley | Buy | $1.48 | $49,779 | |
Wotso Property | 10/07/23 | Joseph Glew | Buy | $1.15 | $46,773 | |
Marmota | 17/07/23 | Colin Rose | Buy | $0.04 | $43,117 | |
Auris Minerals | 10/07/23 | Michael Hendriks | Buy | $0.01 | $34,000 | |
Magnetic Resources NL | 14/07/23 | George Sakalidis | Buy | $0.54 | $23,367 | |
Golden Mile Resources | 12/07/23 | Damon Dormer | Buy | $0.05 | $20,390 | |
Auric Mining | 10/07/23 | Steven Morris | Buy | $0.04 | $18,000 | |
Pivotal Metals | 7/07/23 | Steven Turner | Buy | $0.02 | $16,100 | |
New Talisman Gold Mines | 10/07/23 | Samantha Sharif | Sell | $0.02 | $13,985 | |
Galan Lithium | 14/07/23 | Juan Pablo de la Vega | Buy | $0.91 | $13,637 | |
Athena Resources | 11/07/23 | Peter Newcomb | Buy | $0.00 | $13,533 | |
Gateway Mining | 10/07/23 | Scott Brown | Buy | $0.04 | $10,196 |
Taking a closer look
Tietto Minerals is a $500 million market cap gold producer operating the Abujar Gold Project in Côte d'Ivoire. Earlier this month, Tietto declared commercial production at the project, less than 18 months after commencing construction activities. Non-executive director Francis Harper is the largest shareholder among Tietto directors, currently holding approximately 9.8 million shares ($5.2 million).
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Tietto Minerals 12-month price chart (Source: Market Index)
Genesis Minerals completed the acquisition of St Barbara’s Leonora assets earlier this month for $370 million cash plus 205 million Genesis shares. The acquisition bolstered the company’s Ore Reserves to 3.9 million ounces (up from 3.1 million) and paves the way for a production profile of more than 300,000 ounces per annum without sacrificing margins. Genesis has seen two insider trades between 7-11 July valued at almost $300,000. The stock has rallied more than 20% since 7 July.
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Genesis Minerals 12-month price chart (Source: Market Index)
Galan Lithium operates the Hombre Muerto West Project (a brine/lithium chloride play) in Argentina – It’s located adjacent to projects operated by Allkem, Posco and Livent. The company delivered its Phase 1 DFS in early July, which outlined a post-tax NPV of US$460 million (A$680m) with a US$118 million capex. Despite the robust DFS, the stock (and brine plays in general) has struggled, down around 20% year-to-date to a 2-year low. Managing Director Juan Pablo de la Vega has started to nibble, with two Buys worth a combined ~$104,000.
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Galan Lithium 12-month price chart (Source: Market Index)
