Directors' Trades: Which ASX company director put another $3.6 million into their gold stock?

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.