The TSXV-listed resource juniors we’ve dug up have seen significant insider buying by the CEO and board members during the stock market selloff last week
SmallCapPower | March 18, 2020: Insiders are defined as any person with access to key company information before it is released to the public, or someone who owns more than 10% of a company’s shares. Insiders include individuals such as management, officers, and directors. Government bodies require companies to report this information in a timely manner, giving investors a sense of insider activity within a company. Insider buying when a company is in a bear market shows management’s confidence in the company overcoming the downturn. The four TSXV-listed resource juniors we have discovered today have seen significant insider buying during the recent market selloff.
*Share prices as at March 13, 2020, data obtained from S&P Capital IQ
Lomiko Metals Inc. (TSXV:LMR) – $0.03
Graphite and Zinc Exploration
Lomiko Metals explores for graphite, zinc, silver, and gold deposits in Canada. Its principal property is the La Loutre graphite property that consists of 42 continuous mineral claims covering an area of approximately 2,867.29 hectares located in southern Québec. On February 5, 2020, the Company announced results for 2019 drilling programs, highlighted by hole LL-16-01, which returned grades of 7.74% Cg over 135.60 m including 16.81% Cg over 44.10 meters. The Company also plans to publish a Preliminary Economic Assessment (PEA) this year.
- Market Cap: $2.6M
- 7-Day Return: -14.3%
- 90-Day Return: +20.0%
- 90-Day Average Trading Volume: 227,230
- Recent Insider Activity: CEO – Paul Gill bought ~1M shares from March 11 to March 13
Prime Mining Corp. (TSXV:PRYM) – $0.315
Gold and Silver Exploration
Prime Mining is a junior resource company that explores primarily for gold, silver, cobalt, manganese, and copper deposits. The Company holds an interest in the Los Reyes project, covering an area of 6,300 hectares located in Sinaloa, Mexico. On February 26, 2020, Prime reported drill results highlighted by 39 metres of 6.75 grams/tonne Au and 58.2 grams/tonne Ag from Zapote South at the Los Reyes project.
- Market Cap: $18.6M
- 7-Day Return: -26.8%
- 90-Day Return: -6.3%
- 90-Day Average Trading Volume: 337,860
- Recent Insider Activity: CEO – Andrew Bowering bought ~950K shares from February 28 to March 12Read: Prime Mining Has its Sights Set on 2022 Production
NuLegacy Gold Corporation (TSXV:NUG) – $0.04
NuLegacy Gold acquires and explores mineral properties as well as gold deposits. The Company’s flagship project is the Red Hill property located in Eureka County, Nevada. On February 18, 2020, NuLegacy Gold reported 2019 drill results that returned an average grade of 9.6 grams/tonne gold.
- Market Cap: $16.3M
- 7-Day Return: -30.0%
- 90-Day Return: -41.7%
- 90-Day Average Trading Volume: 203,860
- Recent Insider Activity: CEO – Albert Matter bought ~600K shares from March 10 to March 11
Cardero Resource Corp. (TSXV:CDU) – $0.02
Copper and Silver Exploration
Cardero Resource is a Canada-based, exploration-stage company that explores primarily for copper and silver deposits in Canada and the U.S. The Company holds 100% interests in the Zonia copper project located in Arizona, the United States; Organullo property comprising eight mineral claims in Salta Province, Argentina; and Mina Angela property located in Chubut Province, Argentina, as well as an interest in Silver Queen located in Arizona through staking.
- Market Cap: $2.7M
- 7-Day Return: -33.3%
- 90-Day Return: +0.0%
- 90-Day Average Trading Volume: 41,920
- Recent Insider Activity:
Board Member and Director – Robert Kopple bought ~500K shares on March 13
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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