In January, Ngex Minerals Ltd. NGEX-X began the maiden drill program at its 100-per-cent-owned Potro Cliffs copper-gold project in Argentina. On April 4, it reported new mineralization, which included 7.52-per-cent copper equivalent over 60 metres. The news drove the stock up 24.8 per cent on the day of the announcement. Notably, on April 6, Director Adam Lundin bought into the rally, picking up 200,000 shares in the public market at an average price of $5.62. As of late April, the stock had more than doubled year-to-date.
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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.
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Ted Dixon