Directors’ Trades: A $2.7 million buy into South African manganese and sales after exercising options
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This fortnight’s recap of ASX directors trades included a number of sales following exercising of options and a $2.7 million buy into a South African focused manganese play
Jupiter Mines (ASX:JMS) director Brian Gilbertson bought $2.7 million in his company’s shares in an off market trade.
Manganese is the fourth-most-traded metal in the world, only trailing aluminium, iron ore and copper, and Jupiter has the largest single manganese mine in South Africa.
Production saw a slight fall in the most recent half year due to the impacts of COVID-19 and softening of manganese prices.
Next up was Healthia (ASX:HLA) which is a “roll up” of multiple allied health businesses.
Healthia director Glen Richards bought nearly $1.2 million while his colleague Paul Wilson chipped in over $800,000 – both in a rights issue.
Peter Hood, from the biggest gold success story of 2020, De Grey (ASX:DEG), bought $360,000 in the company’s most recent placement.
Another successful industry has been cybersecurity, and the success story within that success story has been Tesserent (ASX:TNT). Kurt Hansen bought just over $593,000 on market.
The company says the study met its objectives and is now eyeing commercialisation.
CFOAM (ASX:CFO), a company that makes carbon foam products from coal, saw Gary Steineperis chip in just over $250,000.
A high proportion of sellers this week sold shares after exercising options and consequently having to pay a tax bill.
The biggest sale came from was Richard Hyde of West African Resources (ASX:WAF), who parted with $2 million in shares.
Selling on market without exercising options were David Fite of fintech payments platform Tyro (ASX:TYR), who parted with $498,000 of shares while Integral Diagnostics’ (ASX:IDX) Chien Ho parted with $265,600.