Director Transactions

Insider Trades: Exploration and biotech directors are betting on these 9 ASX companies

Thu 13 Jun 24, 11:55am (AEST)
An exploration drill rig in an Australian context
Source: iStock

Welcome back to the Insider Trades Series – A weekly summary of on-market ASX director transactions for companies from the most speculative corners of the market. The trades have all taken place between 3 and 7 June 2024. Directors have up to 5 business days to notify the ASX of their trades.


Top ASX explorer trades

Code

Company

Date

Director

Type

Price

Value

NMT

Neometals

5/06/24

Christopher Reed

Buy

$0.12

$58,000

AUN

Aurumin

6/06/24

Daniel Raihani

Buy

$0.04

$28,000

AUN

Aurumin

5/06/24

Daniel Raihani

Buy

$0.04

$18,440

NKL

Nickelx

4/06/24

Jonathan Downes

Buy

$0.03

$15,546

NKL

Nickelx

4/06/24

Jonathan Downes

Buy

$0.03

$14,590

HCH

Hot Chili

6/06/24

Christian Easterday

Buy

$0.97

$10,699

EE1

Earths Energy

3/06/24

Christopher Bath

Buy

$0.01

$6,500

ESR

Estrella Resources

3/06/24

Christopher Daws

Buy

$0.01

$5,640


Neometals is seeking to commercialise a portfolio of solutions that recycle and recover critical materials like lithium and vanadium. The stock has gone full circle in the past four years from around 10 cents to early 2022 peaks of almost $2.00 and now back to 10 cents. The on-market buy from Chief Executive Christopher Reed represents the first insider buy since mid-2023. Some of the interesting highlights from its recent quarterly report include:

  • Cash balance of $14 million with investments, receivables and inventories of $17.3 million

  • Net cash outflow of $5.6 million for the quarter

Aurumin operates six gold-oriented projects in Western Australia. The stock is up 54% year-to-date amid rising gold prices, positive drill results and plans to advance its flagship Sandstone Gold Project. The recent on-market buys from Non-Executive Director Daniel Raihani represents the first insider buy since February 2023.

  • Aurumin completed a $2.5 million capital raise on 8 March at 3.2 cents per share or a 20% discount to its last traded price. The offer was scaled back due to high demand and management contributed a total $396,000 to the raise

  • The Sandstone Gold Project has an 881,300 once gold mineral resource. A drilling program at Sandstone was completed last quarter, pending results

Nickel X pivoted into uranium earlier this year after securing the rights to four prospective targets in Ontario, Canada (I guess the company could do with a name change to 'Uranium X'). The stock is down 37% year-to-date and down 67% in the past twelve months. Non-Executive Chairman Jonathan Downes has purchased two parcels in recent weeks. The only prior purchase was also Mr Downes, back in May 2012 when the stock was trading at 14.5 cents (or 530% above current levels).


Top ASX biotech trades

Code

Company

Date

Director

Type

Price

Value

VLS

Vita Life Sciences

4/06/24

Henry Townsing

Sell

$2.18

$654,000

TYP

Tryptamine Therapeutics

6/06/24

Jason Carroll

Buy

$0.02

$36,090

TYP

Tryptamine Therapeutics

3/06/24

Jason Carroll

Buy

$0.03

$25,000

TYP

Tryptamine Therapeutics

5/06/24

Jason Carroll

Buy

$0.02

$20,960

RHY

Rhythm Biosciences

3/06/24

Otto Buttula

Buy

$0.07

$18,984

CYC

Cyclopharm

3/06/24

Gregory King

Buy

$1.46

$14,624


Vita Life Sciences is a profitable over-the-counter (OTC) medicines developer and distributor with various brand names throughout Australia, South East Asia and China. The stock is up around 23% year-to-date, with its latest results (full-year 2023 announced on 26 Feb) highlighting:

  • Sales growth of 10.9% to record $74.1 million due to "strong revenue growth from Australia, Malaysia and with increased exports into China."

  • Cash balance of $24.6 million with no debt (current market cap of $130 million)

  • Declared fully franked dividend of 9 cents per share (approx 3.9% yield)

Insiders including Non-Executive Director Henry Townsing and Managing Director Andrew O'Keefe have been selling shares in recent months.

Tryptamine Therapeutics successfully debuted on 29 May as a backdoor listing (replacing Exopharm). The company raised $6.5 million at 2 cents per share to advance its clinical trial pipeline. Tryptamine is entering a new field of research in difficult to treat disorders through the use of psychedelics. It currently has two core programs: TRP-8803 (IV-infused psilocin formulation) and TRP-8802 (oral psilocybin).

Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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