Director Trades: This V8 Supercar boss was selling up last week
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Petrol head Roland Dane has been selling up at car cooler PWR Holdings (ASX:PWR).
Dane has made a couple of sales in the last two weeks, earning him a total of $151,668 (he still owns stock).
PWR sells cooling systems for high performance vehicles, be they military or industrial, but mostly they trade on the racing cars: NASCAR, Indy, F1, V8 Supercars… you name it.
It also has a wind tunnel, which although clearly provides very interesting data, sounds cooler than it looks.
Many may better know Dane as the boss of the V8 Supercar team, Red Bull Holden Racing.
“It’s 181 wins at the moment. Eight teams’ championships. Eight drivers’ championships. Six Bathurst wins. 355 podiums,” Dane told Carsales late last year.
He’s also not afraid of stirring the pot: in March he claimed the latest Ford Mustang had an unfair advantage due to its new aerodynamic design — a design it said was signed off by Supercars last year.
Peter Wright — not the AFL Gold Coast Suns tall forward but the bespectacled resources exec — also sold a pile of stock last week on market, at Laneway Resources (ASX:LNY).
He also sits on the board of graphite miner Bass Metals (ASX:BSM).
Small-time resources is about as removed from property as you can get, at least in terms of risk.
Ian Gandel, the scion of billionaire property magnate John Gandel, now owns 34 per cent of Alliance Resources (ASX:AGS) after backing the gold miner’s $4m capital raising to the tune of $1.6m.
Gandel the younger, who is also on the board of Alkane Resources (ASX:ALK), is the chair of Alliance.
Fellow directors Stephen Johnston and Anthony Lethlean also chipped in, buying $67,059.55 and $27,906.35 respectively.
The cap raise comes after Alliance bought the remainder of a joint venture-operated gold project from Tyranna Resources in South Australia.
While the company admitted the $1.5 million cost depleted the company’s reserves, making the capital raise necessary, it said the opportunity was too good to refuse.
The maiden mineral resource estimate was 1.097m tonnes with a gold grade of 5.1 g/t for 181,000 oz.
The next largest ‘buyer’ was Neon Capital’s Capricorn Metals (AX:CMM) board representative Timothy Kestell.
In fact, it was Neon supporting this capital raising, not Kestell himself, but as a director of both companies the company has to report it as a trade he made — even if he doesn’t own the shares or put any money down.
Also jumping on the big buying bandwagon were Kingsrose Mining (ASX:KRM) chairman Michale Andrews, David Fitch at QEM (ASX:QEM) with its odd combo of vanadium-plus-oil, and Alan Watson at actual oil and gas player Australis Oil & Gas (ASX:ATS).
Australis is an almost-$300m company which puts it into the realm where research houses and banks actually start casting an eye over.
Two weeks ago the local team at Royal Bank of Canada (RBC) decided its first quarter update on flow rates and the ongoing drilling campaign, following some drilling problems last year, means it still deserves an outperform recommendation.