Directors’ Trades: Which ASX company director put another $3.6 million into their gold stock?
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Gold prices may be falling but one ASX company director bought another $3.6 million of shares in their gold stock.
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.
|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|
The pair invested $500,000 each in their respective companies’ placements.
In tech, Comms Group’s (ASX:CCG) Peter McGrath bought $200,000 in a placement.
The most notable sellers were Allan Buckler and James Brown of Canada-focused lithium explorer Sayona Mining (ASX:SYA).
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.
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.