Directors Trades: The company that has risen 12,000pc and directors keep buying more
Pic: Stevica Mrdja / EyeEm / EyeEm via Getty Images
Whatever you think of Audio Pixels (ASX:AKP) you cannot deny it’s been a spectacular investment for those who got in early. From 15c 10 years ago to $18.45 on Friday, it has gained over 12,000 per cent.
It is the second greatest 10-year gainer behind Northern Star Resources (ASX:NST), which has advanced nearly three times that in percentage terms.
Despite the rise Audio Pixels still has not commercialised its semiconductor-based audio speakers and there’s no clear idea when that will happen.
But this didn’t stop chairman Frederick Bart investing another $493,382 into the company.
The largest trade this week was from Alliance Resources’ (ASX:AGS) Ian Gande who bought $1.3m on market as a takeover bid continues. The board has recommended shareholders take up the offer.
Another resources director who was buying was Titan Minerals’ (ASX:TTM) Matthew Carr. He dropped $108,027 to pick up more shares just a few hours after the company announced an offer for a Canada-listed gold explorer with a project in Ecuador.
A fortnight after Catalyst Metals (ASX:CYL) intersected high grade gold, non-executive director Bruce Kay bought $105,131.
Devex Resources (ASX:DEV) director Tim Goyder also bought in soon after a discovery – to the tune of $145,826.
The company’s NSW copper-gold project lies near deposits owned by St Barbara (ASX:SBM) and Sandfire Resources (ASX:SFR) and assays have shown the project has veins and alteration suggesting similar mineralisation.
Among non-resources directors, Robert Peach bought $100,000 in Amplia Therapeutics (ASX:ATX) shares.
The company, which is developing an anti-cancer drug, recently declared its manufacturing process was safe. The drug is only at the preclinical phase and a phase 1 trial is expected to begin in Q2 2020.
Andy Fung and David Stewart bought $500,000 each of MNF Group (ASX:MNF) shares.
| Code | Company | Director | Change | Date | Volume | $ | What |
|---|---|---|---|---|---|---|---|
| DEV | Devex Resources | Tim Goyder | Buy | 13 September | 2,000,000 | $145,826 | On market |
| IDX | Integral Diagnostics | Chien Ho | Sell | 12 September | 50,000 | $160,000 | On market |
| CYL | Catalyst Metals | Bruce Kay | Buy | 13 September | 45,825 | $105,131 | On market |
| MNF | MNF Group | David Stewart | Buy | 12 September | 100,000 | $500,000 | Off market |
| MNF | MNF Group | Andy Fung | Buy | 12 September | 100,000 | $500,000 | Off market |
| ATX | Amplia Therapeutics | Robert Peach | Buy | 17 September | 1,000,000 | $100,000 | Placement |
| IFM | Infomedia | Bart Vogel | Buy | 16 September | 50,000 | $101,500 | On market |
| LYL | Lycopodium | Peter De Leo | Sell | 13 September | 200,000 | $1,064,115 | Off mmarket |
| AKP | Audio Pixels | Frederick Bart | Buy | 17 September | 38,482 | $493,382 | On market |
| AGS | Alliance Resources | Ian Gandel | Buy | 17 September | 9,550,527 | $1,337,074 | On market |
| TTM | Titan Minerals | Matthew Carr | Buy | 16 September | 576,000 | $108,027 | On market |
| WAF | West African Resources | Simon Storm | Sell | 12 September | 500,000 | $250,471 | On market |
| SRG | SRG Global | Enzo Gulloyyi | Sell | 18 September | 250,000 | $104,282 | On market |
Sellers
The sellers were led by Lycopodium’s (ASX:LYL) Peter De Leo, who sold just over $1m of his shares off market.
Also, SRG Global’s (ASX:SRG) Enzo Gulloyyi sold $104,282, West African Resources’ (ASX:WAF) Simon Storm sold $250,471 and Integral Diagnostics (ASX:IDX) Chien Ho sold $160,000 worth of shares.
Gulloyyi said he was selling his shares to pay a tax bill.
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