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Director Trades
Everyone was buying last week, from the smallest to the handful who chipped in more than $100,000 on their companies.
Hastings Technology Metals (ASX:HAS) director Charles Lew tried to backstop a very under-supported cap raise last week, buying $1m of a $16m raising.
The rare earths explorer only raised 15 per cent — $2.5m — from a rights issue, meaning it will be short $10m.
Devex Resources (ASX:DEV) is the company Barry FitzGerald reckons could have another Coronation Hill on its books, and clearly so does Perth mining identity Tim Goyder.
Goyder chairs the little uranium-copper-gold explorer and spent $243,653 in a capital raising last week.
Unlike Hastings, it got $1.19m over and above the $1.1m it was looking for to pay for the drilling program in West Arnhem, Northern Territory.
Goyder is one of the made men of Perth mining. He chairs Chalice Gold Mines (ASX:CHN), lithium play Liontown (ASX:LTR), and is a director of east coast gas explorer Strike Energy (ASX:STX) and PhosEnergy, an unlisted company developing energy tech that does things like recover uranium from phosphate fertiliser production.
Directors at Adslot (ASX:ADJ), a company that automates the buying and selling of display ads on the interwebs, went into an on-market buy frenzy just after the company finished a $4m cap raise for sophisticated investors.
Two spent over $100,000: Andrew Dyer, a Boston Consulting Group partner, and Andrew Barlow, the chairman and founder.
The company’s shares are near 52-week lows which means they’re also at 10-year lows.
In 2009 a company called Webfirm said it was merging with Adslot. The following year it was all done and the shares were off to a great start, with deals with Carsales.com.au and realestate.com.au being signed.
But it’s been a wild ride since then and not one that is proving very profitable for shareholders right now: Adslot posted a $4.3m half year loss, although a review of operations and a “significant cost cutting program” means it’s in a better place than it was a year ago.
Dicker Data (ASX:DDR) COO Vladimir Mitnovetski bought $122,500 of stock on market. He’s no stranger to big buys, sinking $560,000 into the company at one point last year too.
But earlier this month the Australian software seller nabbed a partnership with Kaspersky Lab, the Russian company which is reputed to be the best cybersecurity supplier in the world.
Last week Kapersky Lab reported that mobile banking malware was on the rise and it had detected attacks on 300,000 users of its products in the first quarter.
In 2017 its software was banned from US government computers on suspicion it’d been used by Russian government hackers to obtain classified documents from a National Security Agency employee. The Australian government did not do the same.
Anthony Day, a director at automotive parts supplier AMA Group (ASX:AMA), invested $199,000 in an on-market purchase of shares in the company. He faced one of the perils of on-market buying: AMA shares are currently at 52-weeks highs.
And Sensera (ASX:SE1) director Allan Brackin went large in a $3m capital raising the company was running back in March, to basically keep the books in order.
Code | Company | Director | Change | Date | Volume | $ | What | Total holdings |
---|---|---|---|---|---|---|---|---|
HAS | Hastings Technology Metals | Foon Keong (Charles) Lew | Buy | 23 May | 5,882,353 | $1,000,000 | Capital raising | 103,289,155 |
DEV | Devex Resources | Tim Goyder | Buy | 20 May | 6091333 | $243,653 | Capital raising | 30769157 |
ADJ | Adslot | Andrew Dyer | Buy | 20 May | 7,000,000 | $175,000 | On market | 35,659,342 |
GUL | Gullewa | Anthony Howland-Rosa | Buy | 21 May | 403,462 | $131,000 | On market | 14,401,490 |
ADJ | Adslot | Andrew Barlow | Buy | 20 May | 4,928,000 | $123,200 | On market | 48,102,668 |
DDR | Dicker Data | Vladimir Mitnovetski | Buy | 23 May | 25,000 | $122,500 | On market | 628,713 |
AMA | AMA Group | Anthony Day | Buy | 17 May | 100,000 | $119,000 | On market | 100,000 |
SE1 | Sensera | Allan Brackin | Buy | 23 May | 909091 | $100,000 | Capital raising | 1909091 |