LONDON (ShareCast) - A founder and Non-Executive Director of Central Asia Metals, Robert Cathery, together with his wife, sold a total of 640,000 shares at 96.00p in the exploration and development company.
The £614,400 transaction takes the Catherys' collective stake to 3,631,445 shares.
The sale comes about a month after the company posted a reduction in full-year losses for 2011 at $5.9m (2010: $6.7m).
Revenue fell from $1.4m to $1.2m year-on-year, but a reduction in the cost of sales resulted in a gross profit of $0.15m compared to $0.05m the previous year. Basic loss per share rose from 0.11c to 0.13c.
Copper production is "imminent" and the company has forecast production in 2012 to be 5,000 tonnes, rising to 10,000 tonnes in 2013. The firm said it hopes to generate enough cash from these amounts to enable it to invest in new projects and potentially start paying a dividend.
Group cash at the end of the year was $16.6m compared to $47.4m at the end of the previous year.
The share price has remained stable during the past year, climbing just 1.4%, or 1.25p in twelve months. The share price has lost 8.0% in the last month, equal to 8.00p.
Top Director Buys
Bank of America Corp. (BAC)
Director name: Mr Charles O. Holliday, Jr
Amount purchased: 43,078 @ $7.73
Value: $332,993
Bank of America Corp. (BAC)
Director name: Mr Mukesh D. Ambani
Amount purchased: 20,698 @ $7.73
Value: $159,996
Bank of America Corp. (BAC)
Director name: Mr Susan S. Bies
Amount purchased: 20,698 @ $12.47
Value: $258,036
Bank of America Corp. (BAC)
Director name: Mr Robert W. Scully
Amount purchased: 20,698 @ $7.73
Value: $159,996
Salamander Energy (SMDR)
Director name: Dr Jonathan Copus
Amount purchased: 19,901 @ 174.93p
Value: £34,813
Sinclair Is Pharma (SPH)
Director name: Mr Jean-Charles Tschudin
Amount purchased: 87,880 @ 26.52p
Value: £23,306
Top Director Sells
Central Asia Metals (CAML)
Director name: Mr Robert Cathery
Amount sold: 640,000 @ 96.00p
Value: £614,400
Home Retail Group (HOME)
Director name: Mr Terry Duddy
Amount sold: 79,476 @ 76.24p
Value: £60,593
Home Retail Group (HOME)
Director name: Mr Richard Ashton
Amount sold: 40,708 @ 76.24p
Value: £31,036
Bank of America Corp. (BAC)
Director name: Mr Mukesh D. Ambani
Amount sold: 3,919 @ $12.47
Value: $48,857
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