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Just two small cap directors shelled out sizeable coin for stock last week.
An Axiom Mining (ASX:AVQ) capital raising bagged two big spenders, the CEO and the managing director of Axiom’s largest shareholder.
The CEO is Ryan Mount, who chipped in $100,000 for shares. The total value of his shareholding in the “Pacific Rim” explorer is $226,862.
And the managing director is Jeffrey Markoff, who runs Ack and bought $2.4m worth of stock in the raising.
Ack does not, in fact, have anything to do with the minerals industry: it runs aged care homes in WA.
Mr Markoff appeared as a substantial shareholder in April 2016, with an ante of $4m which gave up just over 7 per cent of the company. He didn’t join the board until two years later, when the company lauded his pedigree as a lawyer and a builder of aged care businesses.
Apparently he has a “sophisticated property and mining investment background”.
Mr Markoff now owns almost 10 per cent of the explorer.
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Watching the tiddlers
One again it was the under-the-radar movers and shakers who were active.
Fourteen small cap directors made on-market trades between $10,000 and $100,000.
But even amongst these 14 almost all trades were under $20,000.
These are the biggest and most interesting of the tiddlers:
- Praemium (ASX:PPS) director David Lipshut, who joined the company in a boardroom spill, just after the CEO was fired then re-hired back in 2017, bought $89,250 of stock for his super fund.
- Noxopharm (ASX:NOX) founder Graeme Kelly bought $27,282 of stock. Mr Kelly allegedly cured himself of cancer using his own experimental drug, which the company is now seeking to prove works via clinical trials.
- Santa Fe Minerals (ASX:SFM) managing director Douglas Rose bought $25,688 worth of shares. Santa Fe has fingers in all of the popular pies, from gold to vanadium.
- Kathyrn Foster, director at fancy earbud maker Nuheara (ASX:NUH), bought $49,620 of stock on market for her super fund.
- And Lev Mizikovsky is at it again: the Tamawood (ASX:TWD) founder bought almost $16,000 of stock. He’s been slowly building his position since the stock price tanked in November, and his stake is still hovering under 50 per cent of the company.