Insider Trades: Directors are buying shares in these 18 ASX small caps

Welcome back to the Insider Trades series  – A summary of small cap resources director transactions valued at more than $10,000 that have taken place between 2-9 June.

Top Insider Buys

Interesting Moves

Omega Oil and Gas: The largest single transaction was from Quentin Flannery, CIO of the billionaire Flannery Family office. The family committed $4.2 million of the $15.1 million that Omega was seeking to raise as part of its IPO back in October 2022. Last week, Quentin Flannery – also a non-Executive Director of OMA – bought approximately $240,000 worth of shares. This is on top of the $915,000 purchased the week prior. 

The Queensland-based explorer successfully wrapped up a drilling campaign that marked two major gas discoveries in the Surat Basin in Queensland last month – which seeks to de-risk a prospective 3 trillion cubic feet of gas and 233 million barrels of oil. The stock is starting to settle around the 23 cent level after rallying as high as 33 cents in mid-April.

Omega Oil & Gas 12-month price chart (Source: Market Index)

Hartshead Resources: Has seen six insider transactions take place over the past two months, valued at a combined ~$290,000.

Hartshead Resources 12-month price chart (Source: Market Index)

Neometals is the only small cap company with multiple insiders buys. The stock is down more than 70% from its April 2022 all-time high. The company operates three core business units in the form of a) lithium-ion battery recycling b) vanadium recovery and c) a lithium chemicals business with Mineral Resources. The two director transactions represent the first insider buys since June 2022.

Neometals 12-month price chart (Source: Market Index)