{"id":10216,"date":"2024-05-28T06:06:36","date_gmt":"2024-05-28T06:06:36","guid":{"rendered":"https:\/\/economicherald.net\/?p=10216"},"modified":"2024-05-28T06:06:36","modified_gmt":"2024-05-28T06:06:36","slug":"monsters-of-rock-uranium-miner-tanks-after-managing-director-sells-70pc-of-his-shares-for-21m","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=10216","title":{"rendered":"Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m"},"content":{"rendered":"<p>Boss Energy (ASX:BOE) managing director\/ CEO, chairman and director sell a massive portion of their respective shareholdings on market<br \/>\nMD Duncan Craib makes over $21m (pre-tax, etc) selling over 70pc of his shares<br \/>\nBOE\u2019s Honeymoon project is currently ramping up production to ~2.45 million pounds (Mlbs) of U3O8 per annum<\/p>\n<p>\u00a0<\/p>\n<p>A small 0.08% recovery for Materials (ASX:XMJ) today, which is still down +2% in the past week.<\/p>\n<p>Iron ore monsters <a href=\"https:\/\/stockhead.com.au\/company\/bhp-bhp\/\" target=\"_blank\" rel=\"noopener\"><strong>BHP (ASX:BHP)<\/strong><\/a>, <a href=\"https:\/\/stockhead.com.au\/company\/rio-tinto-rio\/\" target=\"_blank\" rel=\"noopener\"><strong>Rio Tinto (ASX:RIO)<\/strong><\/a> and <a href=\"https:\/\/stockhead.com.au\/company\/fortescue-fmg\/\" target=\"_blank\" rel=\"noopener\"><strong>FMG (ASX:FMG)<\/strong><\/a> were down marginally \u201cas traders liquidated long positions to cash-in profits on bets of faltering demand entering seasonally slack steel demand season in China\u201d, according to CommSec.<\/p>\n<p>Some of the biggest winners were in gold after the futures price climbed to $US2,352.50\/oz \u201cas investors assessed diminishing bets of US interest rate cuts ahead of a key US inflation report due later in the week\u201d.<\/p>\n<p>\u00a0<\/p>\n<h2>Today\u2019s Best Miners <\/h2>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/nickel-industries-nic\/\" target=\"_blank\" rel=\"noopener\"><strong>Nickel Industries (ASX:NIC)<\/strong><\/a><strong> (nickel)<\/strong> +3.2%<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/yancoal\/\" target=\"_blank\" rel=\"noopener\"><strong>Yancoal Australia (ASX:YAL)<\/strong><\/a> (coal) +1.5%<\/p>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/resolute-mining-rsg\/\" target=\"_blank\" rel=\"noopener\">Resolute Mining (ASX:RSG)<\/a><\/strong> (gold)\u00a0 +1.9%<\/p>\n<p>\u00a0<\/p>\n<h2>Today\u2019s Worst Miners <\/h2>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/boss-energy-boe\/\" target=\"_blank\" rel=\"noopener\">Boss Energy (ASX:BOE)<\/a> <\/strong>(uranium) -11%<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/energy-resources-of-australia-era\/\" target=\"_blank\" rel=\"noopener\"><strong>Energy Resources of Australia (ASX:ERA)<\/strong><\/a> (uranium) -6.12%<\/p>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/silver-lake-resources-slr\/\" target=\"_blank\" rel=\"noopener\">Silver Lake Resources (ASX:SLR)<\/a><\/strong> (gold) -3.8%<\/p>\n<p>\u00a0<\/p>\n<h2>Boss management sell down shareholdings, market follows<\/h2>\n<p>Since late 2021 Australia\u2019s newest uranium producer <strong><a href=\"https:\/\/stockhead.com.au\/company\/boss-energy-boe\/\">Boss Energy (ASX:BOE)<\/a><\/strong> has gained almost 1500%.<\/p>\n<p>At 5:13pm yesterday arvo the company announced that managing director &amp; CEO Duncan Craib, chairman Wyatt Buck and director Bryn Jones had sold a massive portion of their respective shareholdings on market.<\/p>\n<p>Nothing inherently wrong with that, as this was the team which created that value in the first place. It doesn\u2019t necessarily look good to other shareholders, though.<\/p>\n<p>\u201cMr Craib joined Boss in January 2017 and was tasked, personally invested, and incentivised with taking the Honeymoon mine toward production,\u201d Buck says.<\/p>\n<p>\u201cHaving achieved that milestone event Mr Craib has sold 3.75 million securities and retains 1.43 million securities after the change.\u201d<\/p>\n<p>At $5.63 per share Craib just made over $21m selling over 70% of his shares and options.<\/p>\n<p>Buck sold 291,777 shares worth ~$1.6m, and Jones sold 600,000 shares worth ~$3.4m.<\/p>\n<p>Buck says Craib remains a significant long-term shareholder of the company \u201cand has no intention to sell any further shares in the medium term\u201d but the market didn\u2019t like it, sending the stock down over 11%.<\/p>\n<p>\u00a0<\/p>\n<p>Holy hell. Any Boss Energy shareholders out there still bullish after the MD just rinsed 75% of his shares on market? <a href=\"https:\/\/twitter.com\/search?q=%24BOE.ax&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BOE.ax<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BOE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BOE<\/a> <a href=\"https:\/\/t.co\/7BNf5oSPK9\">pic.twitter.com\/7BNf5oSPK9<\/a><\/p>\n<p>\u2014 TRAVIS RICCIARDO (@TRAVmoneyofmine) <a href=\"https:\/\/twitter.com\/TRAVmoneyofmine\/status\/1795000397452755216?ref_src=twsrc%5Etfw\">May 27, 2024<\/a><\/p>\n\n<p>\u00a0<\/p>\n<p>BOE\u2019s Honeymoon project is currently ramping up production to ~2.45 million pounds (Mlbs) of U3O8 per annum. It also has a 30% stake in enCore\u2019s Alta Mesa In-Situ Recovery project in South Texas which was expected to begin production H1 2024.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span>\u00a0<\/p>\n<h2>Fenix locks in high iron ore prices<\/h2>\n<p>Small iron ore miners are few and far between on the ASX.<\/p>\n<p>The ones that do exist are high cost, meaning they make very little profit during booms and habitually stop production when prices go sub US$100\/t.<\/p>\n<p>Except<strong> <a href=\"https:\/\/stockhead.com.au\/company\/fenix-resources-fex\/\" target=\"_blank\" rel=\"noopener\">Fenix (ASX:FEX)<\/a><\/strong>, which continues to succeed where so many others have failed.<\/p>\n<p>Much of that comes down to timing. The early 2021 opening of its high-grade Iron Ridge project near Geraldton in WA coincided with an epic price boom as China reopened from its initial run of Covid lockdowns.<\/p>\n<p>That gave the fledgling producer the sugar hit most new miners only dream of.<\/p>\n<p>And while the iron ore price would experience its biggest bear drop in history just 6 months later, Fenix has endured thanks to its growing high-grade asset base, ownership of its own port, rail and haulage infrastructure, and savvy hedging.<\/p>\n<p>Hedging protects against falls in commodity prices by guaranteeing a certain price for future output. (It has downsides, especially if spot commodity prices are higher than hedged prices for an extended period.)<\/p>\n<p>FEX is now taking advantage of the recent resurgence in iron ore prices to extend and improve its hedge book.<\/p>\n<p>It has secured new iron ore hedging contracts for 210,000 tonnes of iron ore between July 2024 and December 2024 at an average price of A$170 per tonne.<\/p>\n<p>That\u2019s a nice margin at cash costs of A$77.6\/t in the March quarter.<\/p>\n<p>The total hedge book is now 310,000 tonnes at an average price of A$170.23 per tonne which gives the company \u201cstrong positive cashflow margin on a base level of production whilst maintaining positive exposure to spot iron ore prices\u201d.<\/p>\n<p>The $220m capped growth focused stock had a super healthy $88m in the bank at the end of the March quarter.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\"><\/span>\u00a0<br \/>\n<span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/monsters-of-rock-uranium-miner-tanks-after-managing-director-sells-70pc-of-his-shares-for-21m\/\">Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Boss Energy (ASX:BOE) managing director\/ CEO, chairman and director sell a massive portion of their respective shareholdings on market MD Duncan Craib makes over $21m <a href=\"https:\/\/economicherald.net\/?p=10216\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":10217,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=10216\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Boss Energy (ASX:BOE) managing director\/ CEO, chairman and director sell a massive portion of their respective shareholdings on market MD Duncan Craib makes over $21m [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=10216\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-28T06:06:36+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10216#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10216\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m\",\"datePublished\":\"2024-05-28T06:06:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10216\"},\"wordCount\":784,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10216#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/GettyImages-1313471854-AO231q.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10216\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=10216\",\"name\":\"Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10216#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10216#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/GettyImages-1313471854-AO231q.jpeg\",\"datePublished\":\"2024-05-28T06:06:36+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10216#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=10216\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10216#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/GettyImages-1313471854-AO231q.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/GettyImages-1313471854-AO231q.jpeg\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10216#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=10216","og_locale":"en_US","og_type":"article","og_title":"Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m - Economic Herald","og_description":"Boss Energy (ASX:BOE) managing director\/ CEO, chairman and director sell a massive portion of their respective shareholdings on market MD Duncan Craib makes over $21m [more...]","og_url":"https:\/\/economicherald.net\/?p=10216","og_site_name":"Economic Herald","article_published_time":"2024-05-28T06:06:36+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=10216#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=10216"},"author":{"name":"","@id":""},"headline":"Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m","datePublished":"2024-05-28T06:06:36+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=10216"},"wordCount":784,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=10216#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/GettyImages-1313471854-AO231q.jpeg","articleSection":["Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=10216","url":"https:\/\/economicherald.net\/?p=10216","name":"Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=10216#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=10216#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/GettyImages-1313471854-AO231q.jpeg","datePublished":"2024-05-28T06:06:36+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=10216#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=10216"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=10216#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/GettyImages-1313471854-AO231q.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/GettyImages-1313471854-AO231q.jpeg","width":1200,"height":675},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=10216#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"Monsters of Rock: Uranium miner tanks after managing director sells 70pc of his shares for $21m"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/10216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10216"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/10216\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/10217"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}