In November, Democratic Republic of the Congo gold miner Banro stock had a double dose of bad news. On Nov. 14, Banro reported that its Twangiza mine experienced “lower than anticipated gold production to date”. A short time later, investors learned of a rebel insurgence in the northeastern part of the country. Insiders had been selling earlier this fall. However, since Nov. 22, three insiders have spent just under $1-million buying 320,000 shares in the public market. The biggest buyer was CEO Simon Village who bought 200,000 shares.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.