As can be seen from a mandatory announcement on the Australian Stock Exchange, Hill has acquired 2 million FYI shares at $ 0.06 in an over-the-counter transaction. As we have also learned, these are shares held by Empire Resources. Hill's colleague David Sargeant, board member at FYI, is also reported to be taking over FYI shares from Empire shortly. Both pay a small premium over the current market price.
At the end of last year, Hill and Sargeant had bought FYI shares at a price of 0.06. Roland Hill was and is the largest single shareholder of FYI Resources, with approximately 13.6 million shares. In the conversation, Hill expressed confidence that FYI will soon be able to release further updates on the pilot plant's progress.
For the market, the over-the-counter transaction with Empire could act as a double signal. Firstly, the insiders' purchases show confidence in their own company, and secondly, the market does not like the latent overhang of stocks, as it was with an insecure holder like Empire. Since this position has now been cleared, the stock could react to news again with price gains and increased trading.https://www.goldinvest.de/aus-der-redaktion/105-fyi-resources-ltd/2653-managing-director-von-fyi-resources-kauft-2-mio-aktien-zu-0-06-aud
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