Andean Resources director Patrick Esnouf has converted 1 million options at a deep discount to the gold outfit’s trading price. Mr Esnouf spent $250,000, or 25 cents converting each option into shares at a time when the company’s share price was hovering at about $2.40. The option exercise boosts Mr Esnouf’s shareholding to nearly 1.7 million shares, valued at about $4 million.
IMF Australia managing director Hugh McLernon has pocketed $330,000 from the sale of shares at $1.65 each on-market. The transaction leaves Mr McLernon 9.7 million shares valued at $16.4 million.