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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.
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.
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