Insider Trades: Directors are buying shares in these 13 small cap ASX explorers
A summary of small cap mining director transactions valued at more than $10,000 between 4-11 April.
Source: iStock
Mentioned
KEY POINTS
- These transactions break a dry spell for insider buying for several small cap explorers
A summary of small cap mining director transactions valued at more than $10,000 between 4-11 April.
Top small cap director buys
Code | Company | Date | Director | Type | Price | Value | Notes |
|---|---|---|---|---|---|---|---|
Nico Resources | 3/4/23 | Peter Cook | Buy | $0.50 | $901,980 | On-market trade | |
Dreadnought Resources | 5/4/23 | Philip Crutchfield | Buy | $0.07 | $211,520 | On-market trade | |
Great Southern Mining | 5/4/23 | John Terpu | Buy | $0.02 | $206,909 | On-market trade | |
Leo Lithium | 4/4/23 | Rick Crabb | Buy | $0.52 | $98,610 | On-market trade | |
Ci Resources | 5/4/23 | Adrian Gurgone | Buy | $0.92 | $63,321 | On-market trade | |
Peregrine Gold | 3/4/23 | Anees Sabet | Buy | $0.40 | $58,853 | On-market trade | |
Horizon Minerals | 6/4/23 | Ashok Parekh | Buy | $0.05 | $51,665 | On-market trade | |
Cooper Energy | 3/4/23 | Jeffrey Schneider | Buy | $0.16 | $31,000 | On-market trade | |
Arrow Minerals | 4/4/23 | Thomas McKeith | Buy | $0.01 | $30,886 | On-market trade | |
Dreadnought Resources | 5/4/23 | Philip Crutchfield | Buy | $0.07 | $30,696 | On-market trade | |
Gullewa | 4/4/23 | Anthony Howland-Rose | Buy | $0.06 | $26,600 | On-market trade | |
Ballymore Resources | 4/4/23 | Andrew Greville | Buy | $0.15 | $23,052 | On-market trade | |
Minrex Resources | 3/4/23 | Ian Shackleton | Buy | $0.02 | $18,000 | On-market trade | |
Orange Minerals NL | 3/4/23 | David Greenwood | Buy | $0.05 | $10,400 | On-market trade |
Interesting Observations
A broad theme: Several of the above director transactions break a rather prolonged dry spell for insider buying for the respective companies. The latest trades (excluding the ones from above) include:
Leo Lithium: September 2022
Arrow Minerals: September 2022
Nico Resources: June 2022
Great Southern Mining: December 2022
Horizon Minerals: July 2022
Dreadnought Resources: September 2021
Peregrine Gold: April 2021
CI Resources: September 2016
Nico Resources: Former Managing Director and CEO purchased parcels every week between March and June 2022. This was during a time when the stock was running pretty hot, from around 50 cents to highs of $1.87. As the stock started to lose traction, so did the director transactions. The buy from Non-executive Managing Director Peter Cook marks the first insider buy since June 2022. Since then, the stock’s down almost 40%. Last December, the company completed a Pre-Feasibility Study for its flagship Wingellina Nickel-Cobalt Project, which revealed a base post-tax NPV of $3.3bn and 42-year mine life.
Dreadnought Resources: The buy from Non-Executive Director Philip Crutchfield breaks an even larger insider drought – with the last one dating back to September 2021, when Dreadnought shares were trading at just 1 cent. Rare earth stocks have taken quite a hit in the past few months amid declining spot prices and Tesla’s announcement about working towards a rare earths free EV model.
Cooper Energy: Insider buying started to ramp up after a six month break, with seven transactions taking place since March – totaling almost $340,000. The company is a ~$400m market cap gas supplier in the south-east coast of Australia.
