Insider Trades: Tech, mining and biotech directors are betting on these 16 ASX small caps
ASX small cap directors show confidence with notable buys in explorers and tech, despite mixed sector performance and stock price movements.
Source: iStock
Mentioned
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 |
|---|---|---|---|---|---|---|
Vital Metals | 02/07/24 | Buy | $0.003 | $36,000 | ||
Ark Mines | 03/07/24 | Buy | $0.21 | $21,000 | ||
BMG Resources | 28/06/24 | Buy | $0.01 | $18,000 | ||
Hot Chili | 28/06/24 | Buy | $0.65 | $13,000 | ||
Asian Battery Metals | 28/06/24 | Buy | $0.03 | $9,900 | ||
Australian Rare Earths | 28/06/24 | Buy | $0.08 | $8,000 | ||
Kingsland Minerals | 01/07/24 | Buy | $0.23 | $6,792 | ||
Terra Uranium | 02/07/24 | Buy | $0.09 | $5,149 | ||
Truscott Mining Corporation | 01/07/24 | Buy | $0.06 | $4,619 | ||
Truscott Mining Corporation | 28/06/24 | Buy | $0.06 | $1,629 | ||
Trek Metals | 02/07/24 | 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 |
|---|---|---|---|---|---|---|
Minbos Resources | 02/07/24 | 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 |
|---|---|---|---|---|---|---|
Audeara | 28/06/24 | 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 |
|---|---|---|---|---|---|---|
Veem | 28/06/24 | Buy | $1.76 | $43,950 | ||
Butn | 28/06/24 | Buy | $0.05 | $10,317 | ||
Coventry Group | 28/06/24 | 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.
