There are many signs it’s time to buy. Some include making millions from selling diamonds or your company is listing in London.

But evidently the most obvious sign is when earlier trades have made you money.

When Vaughan Bowen joined Uniti Wireless (ASX: UWL), he declared his confidence in the company and bought $951,560.62. On Wednesday we reported his stake was worth $4.4 million thanks to its rise in recent months through company growth and acquisitions.

Since then the share price risen even further and that parcel would be worth $5.7 million – yes, it rose $1.3 million in just two days.

Early last week he topped up his holdings by another $1.55 million and because the share price is now $1.80 that purchase is now worth $2.35 million and his total stake over $8 million.

Image Resources (ASX: IMA) director Li Huang Cheng bought $13 million back in April 2018. Thanks to the share price rise from 10 cents to 24 cents, now that would be $31.7 million.

Li bought another $462,500 in late May (which would now be $480,000) and recently he bought another $240,000. The zircon explorer has been quiet in recent weeks but at the end of last month secured sales agreements to export its mineral concentrate to China.

MGM Wireless’ (ASX: MWR) Mark Fortunatow was another buyer this week having chipped in $150,000. In late 2017 he bought $122,500 and thanks to its rise from 35 cents to $3.25, that would now be worth $1.1 million.

Go in together or go in early

Sometimes directors can buy together and Traka Resources (ASX: TKL) directors Neil Tomkinson and Patrick Verbeek did just that, buying $198,249 each in a rights issue.

At 1.2 cents there’s plenty of room to grow but considering there was a 65 per cent shortfall in the offer, there aren’t many other believers. One other was Patrick Verbeek who put in $57,556.

Magnis Energy Technologies (ASX: MNS), are one of the more intriguing battery metal players because it does both mining and manufacturing. Last week Stockhead attended the Bloomberg Electric Vehicles Outlook and heard the EV revolution is some time away in Australia.

But EVs have made ground elsewhere world and Bloomberg predicted we will catch up. Perhaps the humiliation of having fewer EVs than New Zealand will be the push we need. Magnis’ managing director Marc Vogts bought $136,875.

Only last month the company presented at the Benchmark Minerals Intelligence world tour where it expressed confidence at its technology and therefore its potential.


Two directors sold share packages above $100,000 last week. It’s easy to suggest tax time, but this explanation does not hold up in either case.

The boss of investment group CVC (ASX: CVC), Alexander Beard, sold all his shares for $3.66 million, but this was part of an on-market buy back.

Turners Automotive Group (ASX: TRA) director Paul Byrnes sold NZ$1,659,992 ($1,576,262), but New Zealand does use a different tax year to us. This was why the used car seller announced its profit last month. It came in at $27.4 million.

Code Company Director Change Date Volume $ What Total holdings
IMA Image Resources Li Huang Cheng Buy 13 June 1000000 240000 On market 136445331
TKL Traka Resources Joshua Pitt Buy 13 June 15249888 198249 Rights Issue 60999555
TKL Traka Resources Neil Tomkinson Buy 13 June 15249888 198249 Rights Issue 60999555
ICQ iCar Asia Patrick Y-Kin Grove & Luca Elliott Buy 13 June 10000000 2000000 Options Exercise 119943310
UWL Uniti Wireless Vaughan Bowen Buy 11-14 June 1307611 1552965.8 On market 8993674
CVC CVC Ltd Alexander Beard Sell 14 June 1381136 3660010.4 On market buy back 0
MNS Magnis Energy Technologies Marc Vogts Buy 18 June 2364759 136875 On market 3114759
TRA Turners Automotive Group Paul Byrnes Sell 19 June 703049 1576262 On market 2604860
WEL Winchester Energy Larry Liu Buy 14 June 11605263 243158 On market 82325339
MGM MGM Wireless Mark Fortunatow Buy 19 June 250000 150000 On market 1952873
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