Insider Trades: Exploration and biotech directors are betting on these 9 ASX companies
Directors from Neometals and Nickel X buy into recent weakness, while a Non-Exec is busy buying into this new biotech listing.
Source: iStock
Mentioned
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 |
|---|---|---|---|---|---|---|
Neometals | 5/06/24 | Buy | $0.12 | $58,000 | ||
Aurumin | 6/06/24 | Buy | $0.04 | $28,000 | ||
Aurumin | 5/06/24 | Buy | $0.04 | $18,440 | ||
Nickelx | 4/06/24 | Buy | $0.03 | $15,546 | ||
Nickelx | 4/06/24 | Buy | $0.03 | $14,590 | ||
Hot Chili | 6/06/24 | Buy | $0.97 | $10,699 | ||
Earths Energy | 3/06/24 | Buy | $0.01 | $6,500 | ||
Estrella Resources | 3/06/24 | 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 |
|---|---|---|---|---|---|---|
Vita Life Sciences | 4/06/24 | Sell | $2.18 | $654,000 | ||
Tryptamine Therapeutics | 6/06/24 | Buy | $0.02 | $36,090 | ||
Tryptamine Therapeutics | 3/06/24 | Buy | $0.03 | $25,000 | ||
Tryptamine Therapeutics | 5/06/24 | Buy | $0.02 | $20,960 | ||
Rhythm Biosciences | 3/06/24 | Buy | $0.07 | $18,984 | ||
Cyclopharm | 3/06/24 | 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).
