Directors’ Trades: A trio of directors from this copper stock chipped in amidst the boom
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This fortnight’s list of directors who traded over $100,000 in shares included a trio from NSW-focused copper explorer Peel Mining (ASX:PEX).
Peel undertook a rights issue and James Simpson bought $101,801, Simon Hadfield bought $100,150 and Graham Hardie bought $212,422.
One other director, Robert Tyson, bought in too but just under $80,000.
It’s been a busy 2021 for the company which has undertaken maiden resource definition drilling at its Wirlong project yielding results of up to 5.78 per cent copper.
While the company also has interests in silver and gold, undoubtedly copper is the space to be in right now. Benchmark copper prices are at decade highs and gaining 25 per cent in 2021.
Copper prices are being supported by industrial output and manufacturing continuing to rise from COVID-19 lows as well as concerns about potential mine disruptions.
Other buyers in the resources space included Matthew Carr of Titan Minerals (ASX:TTM) who purchased $247,420 in his company’s shares. Titan’s flagship project is the 2 million ounce Dynasty project in Ecuador’s South.
The biggest buyer of all was Ian Gandel of Australian Strategic Minerals (ASX:ASM) who bought over $10 million in his company’s rights issue.
This company specialises in rare earths and other critical minerals and has tenements in near Dubbo in NSW. It is hoping to complete an optimisation study next quarter and is discussing offtake arrangements with South Korean manufacturing parties.
Mark Lochtenberg of Nickel Mines (ASX:NIC) was a big buyer too, chipping in $2.28 million on market.
There were few other buyers in other sectors but following on from celebrity chef Maggie Beer’s purchase of shares in her company Maggie Beer (ASX:MBH), two other directors joined in.
Tom Kiing bought $265,000 and Hugh Robertson nought $269,367.
There were two sales over $1 million this week.
One was made by Michael Hapgood from Accent Group (ASX:AX1), which owns footwear franchises. He parted with $7 million in shares off market.
Laura Ziolkowski of Corporate Travel Management (ASX:CTD) sold just over $1 million in shares off market.
The company’s shares rose last week after its antibacterial solution was approved by the FDA.