Gold bars
Sometimes you need to dig below the surface. That is obviously true for mining, but what about for insider filings at mining companies? While we have seen some insider public-market selling at Int'l Tower Hill over the past three months, there is more going on than meets the eye on our chart. On June 7, chief executive officer Jeffery Pontius exercised 200,000 options at $1.75, and a few days later board chair Hendrick Van Alphen exercised 370,000 options at the same price (option exercises are not shown on the chart). So far, we have not seen any subsequent sell filings from either executive.
Generally, if insiders exercise options and do not sell their new shares, this stands out as a vote of confidence in the firm's prospects. Therefore, investors interested in the gold sector should keep an eye on the filings of ITH over the next week or two. In this case, no insider news could be good news.
Disclaimer:
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.
Graph Footnote:
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.