Directors purchasing shares on market
Investment Memo: TG1 2022
General: Director Buying
Earlier this week we covered our junior exploration Investment Techgen Metals (ASX: TG1) acquisition of a drill ready gold project in NSW.
The market's response so far to the acquisition has been relatively muted with the share price moving from 13c per share to now trade at ~14c per share. We suspect this has more to do with general market sentiments especially considering the S&P 500 is having days where the index is down 2-4%.
The positive news is that since the acquisition both directors Andrew Jones and Ashley Hood have gone onto market and purchased a combined $15k in shares at ~15c per share (a premium to the current market price).
The purchases aren't massive but it's always nice to see the company’s directors go on market and start buying shares.
With drilling programs being prepared across the company’s copper/gold prospects in WA and at the newly acquired gold project in NSW, TG1 is moving into a relatively busy drilling season where the company will be taking a number of shots at new discoveries.
To see all of the key objectives we want to see TG1 achieve in 2022, the reasons why we continue to hold TG1 in our portfolio and the key risks to our Investment thesis, check out our 2022 TG1 Investment Memo here.
