Directors Trades: The company that has risen 12,000pc and directors keep buying more
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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.
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.
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.