One of the best ways to spot a potential opportunity is by tracking insiders.
After all, who knows the company better than an insider – the CEO, CFO, COO, officers, employees, and directors? If they’re buying a sizable number of shares, it’s often a good idea to start looking into why and perhaps follow them into the stock.
Look at Perpetua Resources
Billionaire investor John Paulson just bought 7.6 million more shares of mining stock, Perpetua Resources (PPTA), for $100 million. He paid $13.20 per share on June 16.
He bought the now oversold stock just after it gapped from about $18 to $13. The stock dropped after the company increased its bought deal offering to 24.62 million shares at $13.20 a share for $325 million in gross proceeds.
Proceeds will support its Stibnite Gold Project, which according to Seeking Alpha, “is projected to be one of the highest-grade open-pit gold mines in the U.S., with 4.8M oz of gold reserves, and is expected to produce ~450K oz/year of gold over its first four years of production.”
“The project also holds an antimony reserve estimated at 148M lbs, the only identified antimony reserve in the U.S. and one of the largest reserves outside of Chinese control; the project could meet 35% of U.S. antimony demand during its initial six years of production.”
Sincerely,
Ian Cooper
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