Here’s our weekly look at which ASX small cap directors bought or sold their own stock (August 20-24):


Two the biggest buyers of their own stock are Anthony Leibowitz at Ensurance and Michael Ruane at Reward Minerals.

Last week, Mr Liebowitz bought another 750,000 Ensurance shares (ASX:ENA), meaning he owns 14.45 per cent of the company.

At $28, 500 it was at the smaller end of his usual purchases. He has bought into Ensurance nine times since being appointed chair in May.

Mr Ruane sank another $1.5 million into potash play Reward (ASX:RWD) partly via a rights issue and on market trades, giving him 33 per cent of the company. He has made some 73 trades in Reward over the years.

Mr Leibowitz told Stockhead he picks up stock whenever he can as he thinks Ensurance is “the next QBE”.

>> Scroll down for a table of last week’s small cap director trades

He says the company has had a tumultuous three years with less-than-stellar management. Now they’ve tidied it up and are working with a strategy that will deliver “huge upside”.

Mr Leibowitz’s track record includes Pilbara Minerals (ASX:PLS) and recruiter Chandler Macleod, which was sold in 2015 for $290 million to Japanese group Recruit.

Reward Minerals

Reward’s Michael Ruane also has form among ASX companies: he was a chairman of Helloworld’s (ASX:HLO) predecessor, floated Altura Mining (ASX:AJM) and Millennium Minerals (ASX:MOY), and is still a substantial shareholder in Intermin Resources (ASX:IRC).

Reward, with its Lake Disappointment potash project, is “way too cheap” so he buys when he can, he says.

He is very optimistic where others clearly have not been — he says they’ve “copped a fair bit in the marketplace” lately.

“This is a cracker of a project we’ve got and at the end of the day I’m going to make ten million bucks,” he told Stockhead.

“I’m sure there will be bigger players interested in the not so distant future.”

Thorney Opportunities (ASX:TOP) magnate Alex Waislitz spent $753,000 on market for 1.12 million shares. He now owns 29 per cent of that particular fund.

PolyNovo (ASX:PNV) chair David Williams bought in again. Mr Williams is another big hitter who is heavily involved in ASX newcomer RMA Global (ASX:RMA) and is one of Sienna Diagnostics’ (ASX:SDX) newest substantial shareholders.

Let’s hope they don’t disappoint the punters.


The biggest deal last week was Nigel Garrard selling his Orora (ASX:ORA) shares for $6.4 million.

He exercised 1.1 million options which cost $1.4 million and converted 739,500 share rights, which cost nothing.

He then sold the lot, making a tidy profit and still having 6.2 million rights and options left over.

Alliance Aviation (ASX:AQZ) directors are taking advantage of a 20 per cent share price surge in early August.

Over two days the stock popped up to $2.38, a high achieved only once before, in 2012.

Chairman Stephen Padgett and managing director Scott McMillan chose to sell.

Mr Padgett knocked out a $909,000 profit and Mr McMillan made just under $640,000.

With Qantas posting a profit last week as well, 2018 could well be a rare year when it’s good to own an airline.

Berkeley Energia boss Paul Atherley had to sell off $135,000 of stock in order to cover some of the $538,000 cost of exercising options in June.

Atrum Coal (ASX:ATU) directors have been fairly active buyers this year — but none more so than Charles Fear.

He made his seventh trade since May last week. Sometimes he’s buying shares, sometimes it’s options, a couple of times it was as part of a capital raising.

Now he owns 6.24 million shares and 8 million options.


Kingsrose Mining (ASX:KRM) had to apologise for its director Grant Mills trading in a blackout period in mid-August.

It said he got verbal, but not written clearance, and says they aren’t going to do anything about it bar remind directors that they aren’t allowed to trade in blackout periods.

“Kingsrose Mining acknowledges that there has a been a breach of its Securities Trading Policy,” the company said in an ASX announcement relesed on August 20.

“After considering the matter, the Board (other than Mr Mills and Mr McIllree) has decided that KRM will not take disciplinary or remedial action in relation to the breach and regards the breach as minor and technical.”

AssembleBay (ASX:ASY), which is becoming a vanadium company after failing as an on-demand IKEA erector, failed to get its option expiry notices in on time, as did Acacia Coal (ASX:AJC).

Contango Asset Management (ASX:CGA) blamed “administrative oversight” for a 3Y that should’ve gone out in March.

Here’s a table of last week’s small cap director trades:

Scroll or swipe for full table. Click headings to sort

ASX codeCompanyDirectorChangeDateVolume$ ValueWhereTotal holdings controlled
ATUAtrum CoalCharles FearBuyAugust 141m75000On market6.24m
BATBattery MineralsGilbert GeorgeBuyAugust 20500,00015151On market9.2m
BOABoadicea ResourcesDomenic De MarcoBuyAugust 172500300On market148,500
EAREcho ResourcesAnthony McIntoshBuyAugust 14-17150,00024000On market8.4m
EVNEvolution MiningJacob KleinBuyAugust 17968,6070Converting performance rights13.7m
GFIGlobal Fortune InvestmentYuan LinSellAugust 152m500000Off market41.5m
HUOHuon Aquaculture GroupPeter BenderBuyAugust 1622,00098741On market57.7m
HUOHuon Aquaculture GroupFrances BenderBuyAugust 1622,00098741On market57.7m
HXGHexagon ResourcesCharles WhitfieldBuyAugust 15-16215,11032517On market4m
IFMInfomediaJonathan RubenszteinBuyAugust 20238,7070Exercise performance rights1.3m
KRMKingsrose MiningGrant MillsBuyAugust 16400,00021000On market410,000
NVANova MineralsDennis FryBuyAugust 15 and 17664,25015277On market1.8m
PNVPolyNovoDavid WilliamsBuyAugust 20500,000269985On market16.3m
SLZSultan ResourcesEddie KingBuyAugust 1650,0009250On market50,000
TNOTando ResourcesBill OliverBuyAugust 16 and 17240,00040221On market240,000
TOPThoney OpportunitiesAlex WaislitzBuyAugust 141.12m753760On market59m
AQZAlliance Aviation ServicesScott McMillanSellAugust 14282,183638849On market4.4m
CIAChampion IronWilliam O'KeeffeBuyAugust 21751,9000Exercise share rights36m
COECooper EnergyAlice WilliamsBuyAugust 2113,3506341On market179,444
COIComet ResourcesAnthony CooperBuyAugust 204.65m121650Converting options and shareholder approved shares6.8m
NEWNew Energy SolarAlan DixonBuyAugust 15 and 1736,14751157Dividend reinvest and share pruchase plan7m
NEWNew Energy SolarAlex MacLachlanBuyAugust 15 and 1712,98418370Dividend reinvest and share pruchase plan102,879
NEWNew Energy SolarJeffrey WhalanBuyAugust 1721,18629999Share purchase plan521,552
MEWNew Energy SolarJohn MartinBuyAugust 15 and 1727,44734378Dividend reinvest and share pruchase plan529,672
SCISciDevKieran RodgersBuyAugust 1116.7m$100,000Share placement40.2m
WNRWingara AGMark HardgraveBuyAugust 20100,00026000On market242,857
AFTAFT PharmaceuticalJames BurnsBuyAugust 2125,00051473On market125,417
BKYBerkeley EnergiaNigel JonesBuyAugust 2035,00027112On market35,000
FWDFleetwood CorporationPhilip CampbellBuyAugust 2011,00019800Entitlement offer26,000
FWDFleetwood CorporationBrad DenisonBuyAugust 20143,954259116Entitlement offer189,418
G88Golden Mile ResourcesRhoderick GrivasBuyAugust 15-2044,75011603On market115,750
GBTGBST HoldingsDeborah PageBuyAugust 206,00012000On market32,500
GTEGreat Western ExplorationKevin SomesBuyAugust 20 and 215.1m36184On market55.8m
HSNHansen TechnologiesDavid TrudeSellAugust 2210,61738008On market100,000
KGNKoganGreg RidderBuyAugust 218,00049095On market160,500
LAMLaramide ResourcesMarc HendersonBuyAugust 1650,00015224On market12.2m
TBHThe BetmakersTodd BuckinghamBuyAugust 21440,00035200Entitlement offer5.8m
APCAustralian PotashMatthew ShackletonBuyAugust 8357,50025025Shareholder approved purchase3.6m
BGLBellevue GoldMichael NaylorBuyAugust 22500,0000Converting performance rights500,000
CATCatapult Group InternationalJames OrlandoBuyAugust 20, 21 and 2225,00028918On market80,000
CZICassini ResourcesGregory MilesBuyAugust 23200,00013400Exercise options3.4m
ENAEnsuranceAnthony LiebowitzBuyAugust 23750,00028534On market50.3m
GGGGreenland MineralsAnthony HoBuyAugust 23250,61019046On market3.2m
GGXGas2GridDennis MortonBuyAugust 2216.45m49350Off market transfer between holdings180m
ORAOroraNigel GarrardSellAugust 16-221.9m$6.4mExercising options and rights and sold on market3.9m
RWDReward MineralsMichael RuaneBuyAugust 228.4m$1.5mRights issue and on market50.2m
RWDReward MineralsRodney Della VedovaBuyAugust 224000720Rights issue74,000
SLRSilver Lake ResourcesLuke TonkinBuyAugust 232.2m0Vested performance rights2.2m
TOMTomizoneMatt AdamsBuyAugust 2011.7m0Shares in payment for fees11.7m
TOMTomizoneMark OhlssonBuyAugust 201.3m0Shares in payment for fees1.3m
VTGVita GroupPaul WilsonSellAugust 22180,282204547On market73,375
VXRVenturex ResourcesAnthony ReillyBuyAugust 21-221.875m22642On market48.8m
AQZAlliance Aviation ServicesStephen PadgettSellAugust 21400,000909000On market7.2m
BKYBerkeley EnergiaPaul AtherleySellJuly 31175,378135041On market to meet the cost of exercising options3.2m
REXRex MineralsMitchell HookeBuyAugust 24666,00091358Exercise options and off market transfer1.4m
SDISDIGerald BullonBuyAugust 2420,00011751On market272,716
PSCPSC Insurance GroupJohn DwyerBuyAugust 23110,000330000On market35.4m