Disclosure: I am long ALLRF.PK. (More...)
In this article, I will feature one potash company that has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:
- The stock is purchased by three or more insiders within one month.
- The stock is sold by no insiders in the month of intensive purchasing.
- At least two purchasers increase their holdings by more than 10%.
Allana Potash (ALLRF.PK) is a junior mining company with a focus on the acquisition and development of potash assets internationally with its focus on the Danakhil potash property, which is a previously explored potash property in Ethiopia. The company also has a property in Argentina, which is located near Vale's Rio Colorado potash solution mining project.
(Click to enlarge)
Insider buying during the last 30 days
- Farhad Abasov purchased 112,500 shares on October 1 pursuant to a purchase/ownership plan. Farhad Abasov currently holds 1,545,000 shares or 0.6% of the company. Farhad Abasov is President and CEO, Director of the company. Farhad Abasov increased his holdings by 7.9% in October.
- Nejib Abba Biya purchased 56,250 shares on October 1 pursuant to a purchase/ownership plan. Nejib Abba Biya currently holds 168,750 shares or less than 0.1% of the company. Nejib Abba Biya is Senior Vice President, Business Development, Ethiopia. Nejib Abba Biya increased his holdings by 50% in October.
- Deborah Battiston purchased 18,750 shares on October 1 pursuant to a purchase/ownership plan. Deborah Battiston currently holds 156,250 shares or less than 0.1% of the company. Deborah Battiston is Chief Financial Officer. Deborah Battiston increased her holdings by 13.6% in October.
- Brianna Davies purchased 18,750 shares on October 1 pursuant to a purchase/ownership plan. Brianna Davies currently holds 156,250 shares or less than 0.1% of the company. Brianna Davies is Corporate Secretary. Brianna Davies increased her holdings by 13.6% in October.
- Lewis Mackenzie purchased 11,250 shares on October 1 pursuant to a purchase/ownership plan. Lewis Mackenzie currently holds 33,750 shares or less than 0.1% of the company. Lewis Mackenzie serves as a director of the company. Lewis Mackenzie increased his holdings by 50% in October.
- Peter MacLean purchased 56,250 shares on October 1 pursuant to a purchase/ownership plan. Peter MacLean currently holds 518,750 shares or 0.2% of the company. Peter MacLean is Senior Vice President, Exploration. Peter MacLean increased his holdings by 12.2% in October.
- Mark Stauffer purchased 11,250 shares on October 1 pursuant to a purchase/ownership plan. Mark Stauffer currently controls 33,750 shares or less than 0.1% of the company. Mark Stauffer is chairman of the board. Mark Stauffer increased his holdings by 50% in October.
Insider buying by calendar month
Here is a table of Allana's insider-trading activity by calendar month.
Month |
Insider buying / shares |
Insider selling / shares |
October 2013 |
285,000 |
0 |
September 2013 |
0 |
0 |
August 2013 |
0 |
0 |
July 2013 |
393,750 |
0 |
June 2013 |
0 |
0 |
May 2013 |
0 |
0 |
There have been 678,750 shares purchased and there have been zero shares sold by insiders since May 2013.
Financials
Allana reported the fiscal 2013 third-quarter, which ended April 30, financial results on June 13 with the following highlights:
Revenue |
$0 |
Net loss |
$2.3 million |
Cash |
$21.6 million |
Upcoming milestones
Allana is expecting to reach production at its Danakhil potash property in 2016.
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Competition