Director Trades: The ASX’s Real Housewives director is buying lithium
Link copied to
Clearly it was too hot (or stormy, in you live in Perth) for directors to go shopping last week for stock.
Only three cracked the $100,000 mark, the level where we start getting interested.
Perth businessman Antony Sage bought $340,000 worth of stock in European Lithium (ASX:EUR) but that is not the most interesting story here.
Mr Sage’s purchase sent us down a Google rabbit hole featuring the Real Housewives of Beverly Hills, soccer, and Cape Lambert (ASX:CFE).
They’re all surprisingly easily explained away: a Real Housewife wanted to be featured — in her underwear of course — in a magazine named KURV owned by Mr Sage and his brother in 2011.
Mr Sage owns the Perth Glory soccer team.
And the “uber-dealmaker” — his description on his website — chairs Cape Lambert.
Mr Sage jumped into European Lithium when it rejigged itself as a lithium explorer away from gold in 2016 — a decision that, at least in terms of metal prices, has paid off handsomely before turning very sour more recently.
He reckons China is manipulating lithium and cobalt prices in much the same way as it did iron ore.
Lottery boss Mike Veverka has made $5.4 million since he started exercising options and selling off the shares in September, which cost him $2.1m.
But last week was his smallest take yet: he only sold 14,181 shares (even though he exercising the usual $525,000 worth of options) and made $113,803.
Since the Jumbo Interactive (ASX:JIN) shares price has been rising since August last year Mr Veverka is scarcely any worse off in terms of share numbers than when he started selling.
He started with 9.6m shares and 1.8m options, and this week still has 9.2m shares and 1.4m options.
Jumbo sells lottery tickets online and in December more than doubled all of its financial data guidance, from EBITDA to profit.
A Brockman Mining (ASX:BCK) director’s wife has been buying big chunks of stock in the company.
They’re the Hong Kong iron ore miner which demanded, and won in court, access to Fortescue’s (ASX:FMG) Pilbara railway line then decided to build its own from the Marillana project to Port Hedland.
But back to Kwai Sze Hoi’s wife.
Over three days Mr Kwai and his wife Cheung Wai Fung bought a total of 56.7m shares on market and a small parcel by exercising some options. It cost them $HK10.2m, or $1.8m.
Mr Kwai now controls 27.6 per cent of the company through his wife’s shareholding.
The shares were bought either side of an announcement that Mineral Resources (ASX:MIN) was definitely buying a 50 per cent stake in Marillana and would help fund the railway.