Gold prices may be falling but one ASX company director bought another $3.6 million of shares in their gold stock.

The buyer was Ian Gandel from Alliance Resources (ASX:AGS) who owns over 70 per cent of the company and made up a similar proportion of shares applied for under the offer.

His company has a project in South Australia which has a mineral resource of 1.1 million tonnes grading 4.3g/t for 152,000 ounces.

Alliance Resources told shareholders in its latest quarterly that it has found interstate travel challenging for exploration activities but is planning a new phase of exploration at the project.

Code Company Director Change Date Volume $ What
MEY Marenica Energy Nelson Chen Buy 25 January 2,102,272 $185,000 Placement
HCH Hot Chili Murray Black Buy 19 January 11,904,762 $500,000 Placement
SYA Sayona Mining Allan Buckler Sell 19 January 32,000,000 $1,622,032 On market
SYA Sayona Mining James Brown Sell 19 January 6,164,565 $358,158 On market
MVP Medical Developments International David Williams Buy 27 January 18,640 $121,160 SPP
CCG Comms Group Peter McGrath Buy 1 February 2,500,000 $200,000 Placement
NWM Norwest Minerals Yew Fei Chee Buy 29 January 3,000,000 $300,000 Off market
AGS Alliance Resources Ian Gandel Buy 3 February 21,328,013 $3,625,762 Rights Issue
KSN Kingston Resources Mick Wilkes Buy 3 February 1,923,077 $500,000.00 Placement
PLL Piedmont Lithium Keith Phillips Sell 27 January 750,000 $600,000 On market
ACR Acrux Ross Dobinson Buy 4 February 831,083 $130,480 Placement & SPP
SES Secos Richard Tegoni Sell 4 February 5,833,325 $1,755,968 Off market
4DS 4DS Memory David McAuliffe Sell 3 February 680,981 $149,584 On market
RHP Rhipe Dominic O'Hanlon Sell 1 February 888,618 $1,643,943 On market

 

Which other ASX company directors bought shares?

Other directors in the resources sector of the ASX who bought big were Mick Wilkes of Kingston Resources (ASX:KSN) and Murray Black of Hot Chili (ASX:HCH).

The pair invested $500,000 each in their respective companies’ placements.

In the health sector, Acrux’s (ASX:ACR) Ross Dobinson bought $130,480 in a placement while David Williams from Medical Developments International (ASX:MVP) bought $121,160 in a share purchase plan.

In tech, Comms Group’s (ASX:CCG) Peter McGrath bought $200,000 in a placement.

 

Who made big sales?

The most notable sellers were Allan Buckler and James Brown of Canada-focused lithium explorer Sayona Mining (ASX:SYA).

The pair, whose stock has taken off in the last month since a deal with Piedmont Lithium (ASX:PLL) including a strategic investment and offtake deal, parted with nearly $2 million in shares.

While the company has not yet given a reason for the sales Secos Group (ASX:SES) Richard Tegoni, who sold $1.76 million in shares, did give a reason – repaying debt.

4DS Memory (ASX:4DS), which is in the semiconductor trade, revealed that David McAuliffe had sold $149,584 and the company said it was “to balance his investment portfolio”.

Rounding out the big sales is Dominic O’Hanlon of cloud computing play Rhipe (ASX:RHP). He parted with $1,643,943 in shares on market last week.