This week’s list of director trades over $100,000 includes directors that are buying shares when the market (or a segment of it) think otherwise.

One way investors bet against a stock is shorting and since we began our fortnightly Short & Caught column we have noticed graphite explorer Syrah Resources (ASX: SYR) a handful of times. Its own James Askew defied the shorters by buying $124,500 on market last Tuesday.

A short-seller’s allegations against Rural Funds Trust (ASX: RFF) sent its shares plunging fast. Not only did the company’s directors rebuke the allegations in word, they also did so in action. Guy Paynter bought $698,750 and David Bryant bought $499,912.

Whichever way this saga ends, someone will lose because as the board noted, Bonitas stand to make substantial financial gain if Rural falls due to its short interest in the stock. Having famously “outed” Blue Sky Alternative Investments (ASX: BLA), Bonitas’ reputation won’t come out of this saga as solid as before if it’s shown to be wrong.

‘Long’ investors can hurt too, but you can also defy them

While Kalium Lakes (ASX: KLL) is still up 77 per cent in 2019 it has fallen 24 per cent in the past couple of weeks. Malcolm Randall bought $100,000 in a placement.

Euroz (ASX: EZL) has also had a few tough weeks, falling from over $1.30 to $1.07 since mid-June but Greg Chessell bought $115,720.

Candy Club (ASX: CLB) has been in decline since its IPO. It is now at 6 cents having listed at 20 cents. But Chi Kan Tang bought $565,000 and James Baillieu bought $174,258. Baillieu became a substantial holder for the first time while Chi Kan Tang consolidated his position as largest shareholder.

In contrast Devex Resources (ASX: DEV) has enjoyed a great August, gaining 52 per cent. Tim Goydner bought $160,535 on market.

The sellers

Consolidated Zinc (ASX: CZL) director Stephen Copulos sold $240,000 of stock but finished the week with more stock than before. That’s because in the same week he turned $927,000 of convertible notes into shares.

The one other director who sold over $100,000 this week was Digital Wine Ventures’ (ASX: DW8) Dean Taylor. He sold $105,564 and had no choice – it was part of a divorce settlement.

Code Company Director Change Date Volume $ What
CZL Consolidated Zinc Stephen Copulos Sell 30 July 20,000,000 $240,000 Off market
DW8 Digital Wine Ventures Dean Taylor Sell 30 July 16,630,566 $105,564 On market
CLB Candy Club Chi Kan Tang Buy 5 August 7,062,730 $565,000 Rights Issue
CLB Candy Club James Bailleu Buy 5 August 2,178,228 $174,258 Rights Issue
SYR Syrah Resources James Askew Buy 6 August 150,000 $124,500 On market
EZL Euroz Greg Chessell Buy 7 August 106,532 $115,720 DRP & on market
DEV Devex Resources Tim Goyder Buy 8 August 2,000,000 $160,535 On market
RFF Rural Funds Trust Guy Paynter Buy 8 August 400,000 $698,750 On market
RFF Rural Funds Trust David Bryant Buy 8 August 292,500 $499,912 On market
KLL Kalium Lakes Macolm Randall Buy 2 August 200,000 $100,000 Placement
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