Happy new year, peeps!
Seeing as there's been a few Change Of Director Interest (CODI) notices of late, I thought I'd have a review of those starting from 01/01/22 up to today.
The callouts I'd like to highlight are as follows:
- I've gone through every CODI announcement and tracked what shares and options movement has happened.
This is summarised in the below image. This was done manually so there could be errors.
- As far as Shares are concerned, Sam has purchased the most by an absolute mile.
I have him down as buying ~$649k and this amount:
• Excludes the 11/5/22 - 500k shares as he got them as part of his joining contract so no real cash was foregone
• Includes the 11/4/24 - 13m options in lieu of salary as this should be considered as he takes a hit to his salary of 50% over 2 years (~$410k AUD)
Note that he hasn't paid this amount directly, but it will come out of his salary over 2 years.
- The second most shares purchased are from Osborne at about ~$125k.
So yeah, bit of a drop off in effort from the rest of the team.
- As far as Oppies goes, both Sam and Marinkovich have arranged for material increases in the levels of oppies they received in 2024.
They've both taken pay salary adjustments for these.
On the 11/6/24 - ~22M oppies were issued to Sam for various reasons such as LT Incentives.
- What's also interesting is in 2H2024 there have been a crazy amount of shares and oppies accumulated:
•Sam purchased ~3m shares in the last 6 months which is more than he's purchased in his entire ~2.5 years before that.
•Sparkes made his first purchase ever.
•Osborne purchased 600k in the last 6 months and about 800k in the 2.5 years before that.
•Marinkovich loaded up with oppies of 3.6m in the last 6 months and now holds a total of 4.2m.
•Sam added 35m oppies in the last 6 months and how holds almost 37m oppies in total.
- I've also thrown a 3 year chart in of our share price and these share/oppie movements.
You can see the massive increase in holdings of shares/oppies in the last 6 months.
The only thing I can think of that's changed in the last 6 months is our pivot back to the Central Zone which holds our 600k oz resource that we previously ditched.
Possibly also management think that the speccy gold market has been smacked around enough and the lows might be in.
It also shows a huge difference in interest/confidence to hold exposure to our shares/oppies in the last 6 months compared to the 2.5 years before that.
Pretty interesting if you ask me!
- Briefly skimming some of our more material announcements from 1H2024, there is little mention of the Central Zone as a target.
This all changed since Jun 24 where in the below highlighted announcements there's been a significant emphasis placed on the Central Zone and the eagerness to test it's openness at depth and along strike.
- Bottom line,
in my uninformed opinion, is that we're going to pivot back to the Central Zone 600k oz and make it the priority.
I think management have realised the gamble they've taken to start a fresh has been a disaster to actual holders and I think they don't have the stomach for it anymore.
I'm keen to see what the 2025 exploration program looks like and I expect to see the majority of the ~AUD $18m we have in the bank account be spend on Central Zone extension drilling.
Hopefully this is clearly articulated to the market and brings confidence back to the stock.
I also hope that the specy gold market has bottomed and we get some love for that as well.
Charts/info are below.
I hope we all have a great 2025!
: )
Share price is in red.
The blocks are shares/oppies accumulated.
