Director Transactions

Insider Trades: Tech, mining and biotech directors are betting on these 16 ASX small caps

Tue 09 Jul 24, 11:19am (AEST)
City towers behind a blue sky
Source: iStock

Stocks in article

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Share article

Key Points

  • Terra Uranium's shares have fallen 41% year-to-date, contrasting with the broader uranium sector rally, while its Executive Chairman recently bought shares
  • Veem, a marine technology manufacturer, reported strong growth in its latest earnings, with revenue up 37% and NPAT up 92%, prompting a director purchase despite a 55% year-to-date stock increase

Welcome back to the Insider Trades Series Small Cap Edition. This is 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 28 June and 3 July 2024. Directors have up to 5 business days to notify the ASX of their trades.

Top Explorer Buys

Ticker

Company

Date

Director

Type

Price

Value

VML

Vital Metals

02/07/24

Richard Crookes

Buy

$0.003

$36,000

AHK

Ark Mines

03/07/24

Ian Mitchell

Buy

$0.21

$21,000

BMG

BMG Resources

28/06/24

John Dawson

Buy

$0.01

$18,000

HCH

Hot Chili

28/06/24

Roberto de Andraca Adriasola

Buy

$0.65

$13,000

AZ9

Asian Battery Metals

28/06/24

Neil Young

Buy

$0.03

$9,900

AR3

Australian Rare Earths

28/06/24

Angus Barker

Buy

$0.08

$8,000

KNG

Kingsland Minerals

01/07/24

Nicholas Revell

Buy

$0.23

$6,792

T92

Terra Uranium

02/07/24

Andrew Vigar

Buy

$0.09

$5,149

TRM

Truscott Mining Corporation

01/07/24

Peter Smith

Buy

$0.06

$4,619

TRM

Truscott Mining Corporation

28/06/24

Peter Smith

Buy

$0.06

$1,629

TKM

Trek Metals

02/07/24

Anthony Leibowitz

Buy

$0.03

$1,009

All the above transactions were conducted by Non-Executive Directors, with the exception of:

  • Terra Uranium's Executive Chairman Andrew Vigar

  • Truscott Mining's Managing Director Peter Smith

Terra Uranium shares have plummeted 41% year-to-date, diverging from the broader rally in mid-to-large cap uranium stocks. The explorer, with a significant portfolio in Canada's Athabasca Basin, recently raised A$500,000 at a 3.2% premium to fund its Amer Lake acquisition. Terra made its ASX debut back in September 2022 after raising $7.5 million at 20 cents per share. It briefly hit a record high of 50 cents in January 2023.

Truscott Mining is a $10 million market cap gold explorer, developing the Tennant Creek Project in the Northern Territory. Since April 2023, Mr Smith has recorded 52 on-market purchases which totaled $145,214. He collectively owns approximately 70 million shares or 40% of the company. The stock is extremely illiquid and currently up around 9% year-to-date.

Top Explorer Sells

Ticker

Company

Date

Director

Type

Price

Value

MNB

Minbos Resources

02/07/24

Valentine Chitalu

Sell

$0.055

$39,642

Minbos Resources saw the only insider 'Sell' this week. Non-Executive Director Valentine Chitalu offloaded 714,285 shares, about 45% of her holdings. Notably, this matches the number of shares she acquired in the company's April 2024 capital raising at 7 cents per share.

Top Biotech Buys

Code

Company

Date

Director

Type

Price

Value

AUA

Audeara

28/06/24

James Fielding

Buy

$0.034

$4,988

Audeara is a global hearing health leader specialised in innovative listening solutions for people with hearing challenges. The company's headphones use a health-check algorithm to tailor sound to a unique hearing profile, delivering personalised sound for each ear. The $5 million market cap company reported some rather interesting numbers in its latest March quarter update:

  • 3Q24 cash receipts of $1.12 million, a record high and up 69% quarter-on-quarter

  • 3Q24 net operating cash flow of $0.46 million; first quarter of positive operating cash flows

  • YTD FY24 net cash flow of -$0.42 million, down 80% from the prior corresponding period

  • $2.1 million cash at 31 March 2024

Other Buys of Interest

Code

Company

Date

Director

Type

Price

Value

VEE

Veem

28/06/24

Angus Murnaghan

Buy

$1.76

$43,950

BTN

Butn

28/06/24

Cameron Petricevic

Buy

$0.05

$10,317

CYG

Coventry Group

28/06/24

Neil Cathie

Buy

$1.41

$8,671

Veem is a $230 million market cap manufacturer of high technology marine propulsion and stabilisation systems for the global luxury yacht, commercial workboat and defence industries. The stock is up 55% year-to-date, with its latest half-year FY24 earning demonstrating a rather stellar growth trajectory.

  • 1H24 revenue up 37% to $39.7 million

  • EBITDA and NPAT up 65% and 92% to $6.9 million and $3.5 million respectively

  • Cash flow from operations up 203% to $4.4 million

Despite the sizeable share price run, Non-Executive Director Angus Murnaghan has picked up 25,000 shares, marking the first insider transaction since September 2021.

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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