Sean K
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Insider Trades: 3 small cap directors selling after share price surges
By Kerry Sun
Tue 21 Feb.
A summary of director transactions .
Top Insider Moves by Value
Code Company Date Director Type Price Value Notes CNB Carnaby Resources 10/02/23 Gregory Barrett Sell $1.15 $1,150,000 On-market trade. CNB Carnaby Resources 10/02/23 Peter Bowler Sell $1.15 $1,150,000 On-market trade. CNB Carnaby Resources 10/02/23 Robert Watkins Sell $1.15 $1,150,000 On-market trade.
KEY POINTS
A summary of director transactions among mid-to-small cap resource companies between 6 to 17 February.
- Directors from Carnaby Resources, AML3D and EV Resources sold shares following news driven rallies
- All three stocks are down between 30-70% in the last twelve months
Top 15 Insider Moves by Value
. Interesting Sells
The three transactions below all have a rather similar narrative:
The orange circle in the price charts below represents the day the director transaction takes place.
- The stocks are down 30-70% in the last twelve months.
- The stocks rallied on good news.
- Directors sold a part of their holdings on the day (or a few days later).
Carnaby Resources (ASX: CNB)
Carnaby shares rallied 10.6% on February 2nd following the release of "a significant new high grade copper gold discovery" at the company's Mount Hope Central discovery in Queensland.
The price action over the next few days was rather volatile and on no additional news:
On February 10, three directors exercised a collective 900,000 options at 45 cents each but sold 3 million shares at around $1.15 per share.
- 3-7 February: -10% to $1.08
- 8-9 February: +21.8% to $1.315
View attachment 153377
Carnaby Resources chart (Source: TradingView)
And up today... 8% on good (stunning?) intersections
View attachment 155171
Though the price action had been building all week
View attachment 155170
I'd keep stunning for a cure for cancerThey are running out of superlatives though. I don't think they've used remarkable or staggering yet. Phenomenal has probably been the best so far.
I'd keep stunning for a cure for cancer
Carnaby Resources Limited notes this morning’s ASX release by Hammer Metals Limited .Not sure why Hammer and Carnaby aren't in bed together.
This patch of dirt has a lot of copper in it.
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