Directors Trade: Two Base Resources directors collectively sold $1.8 million in shares last week
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This week a $1.8 million chunk of Base Resources (ASX: BSE) left the hands of directors Tim Carstens and Colin Bwye.
Carstens sold 3.63 million shares for $871,877 and Bwye sold 3.87 million shares for $929,237. This is the second sale in as many weeks although the first pair of sales was only $90,000 between them.
But neither trade was the biggest sale of the week. Bubs Australia (ASX: BUB) founder Kirsty Carr sold 20 per cent of her stake in the company for $5.9 million. The company was honest with shareholders about why she sold. Namely, “to acquire a new family home”.
Another pair of directors that bought were Oneview Healthcare (ASX: ONE) directors James Fittler and Joe Rooney who bought $300,000 and $150,000 respectively in their recent placement.
Oneview is one of the handful of stocks exposed to Brexit, being headquartered in Ireland. Between June 24 2016 and March 14 2019 it had fallen 90 per cent.
Since we reported this, the stock has continued to fall (40 per cent to be exact) but this did not prevent Fittler & Rooney topping up their holdings. Fellow directors Michael Kaminski also participated, buying $70,000 and $8,500 respectively.
AMCIL (ASX: AMH) director Jonathan Webster was the biggest individual buyer of the week. He bought around $600,000 in shares of the Melbourne-based investment company. Another investment company buyer was QV Equities (ASX: QVE) director Anton Tagliaferro who bought $313,307 of QV stock.
Also among the buyers was Sky and Space Global (ASX: SAS) director Meir Moalem who revealed he bought $200,000 in the company’s most recent capital raising. Two other directors put in $50,000 each.
Moalem has not shied away from his confidence in the company. Last week he sent a letter to shareholders where he predicted Sky and Space would become, “a dominant player in the space market with a strong and attractive global business”.
Equatorial Resources (ASX: EQX) director Ian Middlemas bought $385,600 of shares of the Congo-focused iron ore miner. Iron ore prices are at their highest level in three years, which would be good news for miners.
Other mining directors who bought included Rox Resources (ASX: ROX) director Alexander Passmore (buying $100,120), Gascoyne Resources’ (ASX: GCY) Rodney Joyce (buying $215,000) and Kingrose Mining’s (ASX: KRM) John Morris (buying $157,500).
Dongfang Modern Agriculture (ASX: DFM) director Hongwei Cai bought $4 million in shares last month and this week he bought another $269,785.
While Dongfang has been successful, with a net profit after tax of nearly $90 million, it has fallen nearly 10 per cent since Cai’s last purchase a month ago.