One of the golden rules of the stock market surrounds director share dealing. Buying is good, selling is not so good. That said in current cynical and perhaps somewhat over-regulated markets, it is sometimes the case that even buying does not satisfy everyone. Nevertheless, in the case of copper/gold exploration group Xtract Resources (XTR) the fact of the matter is that Executive Chairman Colin Bird has bought for the second time in two months, and at around the same price each around 5.75p. The two recent 1m shares purchases take his stake to 1.69%, and if nothing else can be taken as a show of confidence in the prospects for the group. Indeed, the other news of the day from Xtract was a £5.5m placing to fund an accelerated Bushranger phase 2 drilling programme.
Speaking of director share dealing, the last proper RNS from i-nexus Global plc (INX), a provider of cloud-based Strategy Execution software solutions designed for the Global 5000, was at the end of March when David Firth, a Non-executive Director and PDMR, purchased 180,000 ordinary shares of 10 pence each in the Company at a price of 5.5 p per share. This was certainly a canny purchase, and one to have followed, in the sense that some three weeks later, the shares are up nearly three fold. With much of the gain in the past couple of sessions, one would assume that either there are many clairvoyants sniffing around the stock, and / or significant news is in the offing given the chunky gains in the stock over the past couple of sessions with no speeding ticking RNS to date.
It was a case of poacher turning gamekeeper, or perhaps gamekeeper turning poacher, with the appointment of Dr Gareth Cave to the board of anti-viral mask maker Remote Monitored Systems (RMS) as Non-Executive Director. Wunderkind / Boffin, Cave, 46, is a founder and Chairman of Pharm2Farm Ltd, the company’s wholly owned subsidiary. He is joined at RMS by another over-achiever, Dr Felicity Sartain who has an envy inducing CV including roles in Healthcare, Life Science and Nanotechnology sectors. This has been delivered in the wake of gaining a PhD in Biotechnology from the University of Cambridge and an MSc in Chemistry at the University of York.
On the Aquis market there was decent action. Valereum Blockchain (AQSE: VLRM), the Cryptocurrency Finance, Defi and Blockchain Technology venture builder, said that the Company’s US OTC Markets Sponsor, Galanopoulos & Company, has now submitted the application to OTC Markets in New York to facilitate the cross-trading of Valereum’s ordinary shares onto the facilities of the OTCQB in the United States. The shares jumped another 11% to 29.5p.
Another big riser on Aquis was Litigation Funding Securitisation group Forbes Ventures (FOR) is pleased to which last month announced short-term delays to listing and final closing of the First Issue, and that then it expected the listing and final placement of the First Issue to be complete in the coming weeks – which in theory means that it would now be imminent. This might explain what the stock is particularly buoyant now in anticipation of positive news.
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