Insider Trades: Directors are buying shares in these 21 ASX small caps
What small-to-mid cap directors are buying and selling this week.
Source: iStock
Mentioned
KEY POINTS
- Directors of small-to-mid-cap battery-metal and uranium companies are buying shares
- Credit Corp insiders are beginning to nibble after a sharp ~30% selloff last month
Welcome back to the Insider Trades Series – A summary of on-market director transactions valued at more than $10,000 for small-to-mid cap ASX companies between 6-13 November.
Top Sells
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Medadvisor | 8/11/23 | Sell | $0.18 | $1,232,452 | ||
Gold Road Resources | 10/11/23 | Sell | $1.85 | $370,003 |
Gold Road Resources (ASX: GOR) hasn't seen any selling since March 2023 – When Chief Executive Duncan Gibbs sold approximately $510,000 worth of shares (after exercising $750,591 worth of options a month earlier). Here are the two key factors to consider after the March sale:
Shares in Gold Road rallied around 35% between March and early May after gold prices surged from US$1,800 to a brief peak of US$2,080.
Gold Road announced a production downgrade in June 2023. The company said the "reliability and utilisation of the production drills and availability of blasting resources were below expectations for the quarter," and lowered its 2023 production guidance to 320-350,000 ounces (from 340-370,000 ounces).
The stock sold off around 15% in the days that followed the announcement
%20Share%20Price%20-%20Market%20Index.png)
Gold Road 12-month price chart (Source: Market Index)
Top Buys from Resource Companies
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Iperionx | 13/11/23 | Buy | $1.47 | $763,141 | ||
Aic Mines | 9/11/23 | Buy | $0.30 | $300,000 | ||
Lotus Resources | 7/11/23 | Buy | $0.25 | $182,331 | ||
Patriot Lithium | 9/11/23 | Buy | $0.21 | $78,334 | ||
Nimy Resources | 8/11/23 | Buy | $0.23 | $45,620 | ||
White Cliff Minerals | 9/11/23 | Buy | $0.01 | $36,000 | ||
Unico Silver | 9/11/23 | Buy | $0.10 | $30,898 | ||
Frontier Energy | 8/11/23 | Buy | $0.30 | $21,193 | ||
Po Valley Energy | 9/11/23 | Buy | $0.04 | $18,840 | ||
Corazon Mining | 9/11/23 | Buy | $0.02 | $14,685 | ||
Corazon Mining | 8/11/23 | Buy | $0.01 | $14,296 |
IperionX (ASX: IPX) has only seen two insider buys this year – All of which come from Executive Chairman Todd Hannigan. He bought around $850,000 back in May and another $763,141 last week.
What they do: IperionX is focused on developing the Titan Project in Tennessee, USA. The project contains a large titanium resource with the potential to produce 500,000 tonnes of titanium dioxide per annum. Its also developing a breakthrough titanium technology called HAMR (Hydride Attrition Milling Reaction) which has the potential to produce titanium powder with significantly lower carbon emissions than traditional methods.
No discounts here: IperionX successfully raised $26.3 million on 1 November at $1.25 per new share (no discount to previous close, 14.5% premium to 5-day VWAP). In parallel with the raise, the company also received a US$12.7 million grant from the US Department of Defense.
%20Share%20Price%20-%20Market%20Index.png)
IperionX 12-month price chart (Source: Market Index)
Top Buys (ex-Resources)
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Jatcorp | 8/11/23 | Buy | $0.36 | $196,764 | ||
Credit Corp Group | 7/11/23 | Buy | $12.41 | $111,681 | ||
Betmakers | 7/11/23 | Buy | $0.09 | $107,600 | ||
Waypoint REIT | 15/11/23 | Buy | $2.33 | $46,600 | ||
Betmakers | 9/11/23 | Buy | $0.09 | $44,500 | ||
AUB Group | 7/11/23 | Buy | $27.27 | $34,087 | ||
Pengana Capital Group | 7/11/23 | Buy | $1.05 | $31,541 | ||
Peet | 9/11/23 | Buy | $1.18 | $29,994 | ||
Aims Property | 7/11/23 | Buy | $1.25 | $24,375 | ||
Boom Logistics | 6/11/23 | Buy | $0.12 | $23,025 | ||
Betmakers | 8/11/23 | Buy | $0.10 | $22,240 | ||
Omni Bridgeway | 10/11/23 | Buy | $1.62 | $16,200 | ||
Omni Bridgeway | 8/11/23 | Buy | $1.70 | $15,490 | ||
Aims Property | 8/11/23 | Buy | $1.25 | $12,867 | ||
Omni Bridgeway | 7/11/23 | Buy | $1.63 | $12,363 |
Credit Corp (ASX: CCP) shares nosedived 31% on 18 October after flagging a massive impairment to the carrying value of its US-purchase debt assets. It downgraded its FY24 statutory net profit guidance to $35-45 million, down from $90-100 million.
For context, the company purchases past-due consumer and small business debts from major banks, telcos and utilities companies. It then assumes the responsibility of collecting the outstanding debts and employs a variety of strategies to collect debts effectively.
Two non-executive directors have purchased a collective $160,000 since the dip.
%20Share%20Price%20-%20Market%20Index.png)
Credit Corp 12-month price chart (Source: Market Index)
