Directors’ Trades: It is ever too late to jump on the bandwagon?
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A number of big trades among ASX small cap directors came from sectors or companies that have seen solid momentum in recent months.
Many directors are among the first to take a leap of faith in their company and reap the rewards along with early shareholders.
One buyer was Philip Dubois from diagnostic imaging provider EMVision (ASX:EMV).
Dubois only joined EMVision last month but bought $100,000 within days of his appointment. He is a radiology professor and is also on the board of healthcare giant Sonic (ASX:SHL).
|CCA||Change Financial||Harley Dalton||Buy||23 September||1,500,000||$190,000||On market|
|HLA||Healthia||Anthony Ganter||Buy||28 September||249,730||$247,732||Dividend Reinvestment plan|
|EOS||Electro Optic Systems||Ian Dennis||Sell||30 September||25,000||$145,000||On market|
|NVX||Novonix||Robert Natter||Sell||14 July||407,500||$411,166||On market|
|BBX||BBX Minerals||William Dix||Sell||29 September||367,401||$183,701||On market|
|EMV||EMvision Medical Devices||Philip Dubois||Buy||1 October||40,000||$100,000||Off market|
|REE||RareX||John Young||Buy||1 October||2,000,000||$100,000||Placement|
|HAS||Hastings Technology Metals||Charles Lew||Buy||1 October||5,134,500||$734,234||Placement|
|ICT||iCollege||Ashish Katta||Sell||2 October||16,500,000||$990,000||Off market|
|NXS||Next Science||Bruce Hancox||Buy||2 October||154,330||$190,212||On market|
|CNJ||Conico||James Richardson||Buy||2 October||9,122,918||$127,721||Rights Issue|
|CNJ||Conico||Douglas Solomon||Buy||2 October||8,400,288||$117,604||Rights Issue|
|CAI||Calidus Resources||David Reeves||Buy||5 October||275,000||$154,500||On market|
|TFL||TasFoods||Ben Swain||Buy||2 October||2,502,941||$212,750||Rights Issue|
|KPG||Kelly Partners Group||Brett Kelly||Sell||1 October||344,417||$413,300||Off market|
|VVA||Viva Leisure||Mark McConnell||Sell||2 October||1,000,000||$2,300,000||Off market|
|NTM||NTM Gold||Michael Ruane||Buy||6 October||2,065,000||$186,524||On market|
|AV1||Adveritas||Mark McConnell||Buy||7 October||26,666,667||$2,000,000||Placement|
|MGT||Magnetite Mines||Peter Schubert||Buy||6 October||15,000,000||$150,000||Rights Issue|
|CHN||Chalice Gold Mines||Morgan Ball||Sell||7 October||250,000||$700,251||On market|
|TPW||Temple & Webster||Stephen Heath||Sell||31 August||150,000||$1,387,845||On market|
Two other ASX directors trades were in rare earths companies. The sector has lived in the shadow of gold for much of 2020 but many received a boost from President Trump’s executive order calling for more domestic rare earths production.
The US currently imports 80 per cent of its rare earth elements from China but is keen to change that.
While inevitably, the small caps with US-based projects will be first in line, stocks with Australian projects have seen a boost too.
John Young of RareX (ASX:REE) snapped up $100,000 in stock. His company recently acquired a project near Australia’s only rare earths mine – owned by producer Lynas (ASX:LYC) – and is preparing to drill next month.
Another was Charles Lew of Hastings (ASX:HAS) who chipped in $734,000 in a $14.6 million placement. His company is preparing to commence construction at its own project next year.
A number of gold buyers were on the list too in spite of spot prices stagnating in recent weeks.
James Richardson and Douglas Solomon from Greenland-focused Conico (ASX:CNJ) both put in $100,000 each.
Calidus Resources (ASX:CAI), which is aspiring to become a producer next year, saw David Reeves buy $154,500 on market.
And Michael Ruane from NTM Gold (ASX:NTM) bought $186,524 of shares in his own company, also on market.
There were few ASX directors’ trades in other sectors this week. But one notable trade was a $190,212 on market purchase by Bruce Hancox into Next Science (ASX:NXS).
His company is hoping to commercially launch its bug-killing surgical rinse into the US in the first half of next year.
One of the biggest winners in the last 12 months is furniture store Temple & Webster (ASX:TPW) – up over 600 per cent in that time frame. It’s been one of the biggest beneficiaries of the ecommerce boom.
Stephen Heath sold $1.38 million in shares on market back on August 31 but this was only disclosed to the market last week.
While Viva Leisure did not give an explanation to shareholders, he ended up buying $2 million of shares in ad-tech stock Adveritas (ASX:AV1) only a few days later.