Lithium stock Galaxy (ASX:GXY) is hoping to advance a lithium project in Argentina
Directors’ Trades: These two bought some of their own $1 billion lithium stock for Xmas
Director Trades
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As Christmas looms, last week saw an uptick in the number of director’s trades above $100,000.
A couple that stood out were from a pair of directors from $1 billion lithium stock Galaxy Resources (ASX:GXY). Martin Rowley bought $554,849 and Anthony Tse bought $320,001 – both in Galaxy’s recent rights issue.
Galaxy and its lithium peers saw a rough couple of years as the lithium market oversupplied.
But 2020 has been a better year as EV and battery makers (especially Tesla) have been scrambling for commodities once again.
The company is already producing spodumene and tantalum concentrate from its Mt Cattlin mine in WA.
But the fundraising from this deal will go towards its Sal de Vida lithium brine project in Argentina and its project at James Bay in Canada.
First production from Sal de Vida, which lies right in the renowned Lithium Triangle that accounts for 40 per cent of global production, is estimated to occur in late 2022.
| Code | Company | Director | Change | Date | Volume | $ | What |
|---|---|---|---|---|---|---|---|
| DCN | Dacian Gold | Leigh Junk | Buy | 4 December | 1,000,000 | $350,859 | On market |
| TEK | Thorney Opportunities | Alex Waislitz | Buy | 7 December | 6,933,440 | $2,426,704 | Rights Issue |
| SDG | Sunland Group | Vahid Saberi | Buy | 3 December | 117,000 | $257,301 | On market |
| AGD | Austral Gold | Wayne Hubert | Buy | 3 December | 595,500 | $111,190 | On market |
| KPG | Kelly Partners | Brett Kelly | Sell | 3 December | 86,955 | $147,731 | On market |
| SSG | Shaver Shop | Cameron Fox | Sell | 3 December | 590,000 | $628,336 | On market |
| TAS | Tasman Resources | Douglas Solomon | Buy | 4 December | 5,606,861 | $224,274 | Rights Issue |
| TAS | Tasman Resources | Greg Solomon | Buy | 4 December | 3,004,487 | $120,179 | Rights Issue |
| ADT | Adriatic Metals | Peter Bilbe | Sell | 5 December | 90,000 | $197,100 | On market |
| LVT | LiveTiles | Peter Nguyen Brown | Sell | 8 December | 11,500,000 | $2,990,000 | On market |
| LVT | LiveTiles | Karl Redenbach | Sell | 8 December | 11,500,000 | $2,990,000 | On market |
| TKM | Trek Metals | Tony Leibowitz | Buy | 8 December | 2,208,194 | $129,480 | On market |
| AUC | Auctus | Bradley Harrison | Sell | 9 December | 350,000 | $210,000 | Off market |
| GXY | Galaxy Resources | Martin Rowley | Buy | 4 December | 326,382 | $554,849 | Rights Issue |
| GXY | Galaxy Resources | Anthony Tse | Buy | 4 December | 188,236 | $320,001 | Rights Issue |
| VAN | Vango Mining | Yanchao Guo | Buy | 3 December | 3,162,451 | $224,851 | On market |
| CIA | Champion Iron | David Cataford | Sell | 4 December | 233,333 | $1,115,332 | On market |
| CLV | Clover Corp | Peter Davey | Sell | 9 December | 227,000 | $404,024 | On market |
Other buyers: Alex Waislitz and a group of gold stock directors
Billionaire investor Alex Waislitz and his investment vehicle Thorney (ASX:TEK) is more commonly found in Stockhead’s Trading Places column.
But the pair make the Directors’ Trades column as Waislitz chipped $2.4 million into Thorney’s rights issue.
Thorney told shareholders the proceeds would be used to invest in technology companies, particularly pre-IPO opportunities.
One company that’s missed the gold bull run of 2020 is Dacian Gold (ASX:DCN).
Dacian spent the first few months of the year suspended and having to recapitalise following several mineral resource estimates and production downgrades in prior years.
While the share price has moved little, Dacian last month acquired NTM Gold (ASX:NTM) and is gradually pushing towards being unhedged.
Other buyers among gold stocks included Vango Mining’s (ASX:VAN) Yanchao Guo who bought $224,851 and Austral Gold (ASX:AGD) Wayne Hubert who bought $111,190 – both on market.
Brothers Greg and Douglas Solomon chipped more money into Tasman Resources (ASX:TAS) which is a diversified explorer with projects in South Australia and also owns owns over 33 per cent of concrete stock Eden Innovations (ASX:EDE).
Sellers
David Cataford, hailing from Canada-based iron ore producer Champion Iron (ASX:CIA), sold just over CA$1.1 million in shares after exercising options.
Clover Corp’s (ASX:CLV) Peter Davey parted with over $400,000 with shares after exercising performance rights.
LiveTiles (ASX:LVT) directors Peter Nguyen-Brown and Karl Redenback sold nearly $3 million each to put to bed a legal dispute.
The pair sold off-market to fund manager Fidelity which as a consequence became a substantial holder with a 5.36 per cent stake.
Redenbach and Nguyen-Brown still own 10.1 per cent and 8.7 per cent respectively.
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