Central Asia Metals founder drops 640,000 shares

14th May 2012 15:31

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 BuysBank of America Corp. (BAC) Director name: Mr Charles O. Holliday, JrAmount purchased: 43,078 @ $7.73 Value: $332,993Bank of America Corp. (BAC) Director name: Mr Mukesh D. AmbaniAmount purchased: 20,698 @ $7.73 Value: $159,996Bank of America Corp. (BAC) Director name: Mr Susan S. BiesAmount purchased: 20,698 @ $12.47 Value: $258,036Bank of America Corp. (BAC) Director name: Mr Robert W. Scully Amount purchased: 20,698 @ $7.73 Value: $159,996Salamander Energy (SMDR) Director name: Dr Jonathan CopusAmount purchased: 19,901 @ 174.93p Value: £34,813Sinclair Is Pharma (SPH) Director name: Mr Jean-Charles TschudinAmount purchased: 87,880 @ 26.52p Value: £23,306Top Director SellsCentral Asia Metals (CAML) Director name: Mr Robert CatheryAmount sold: 640,000 @ 96.00p Value: £614,400Home Retail Group (HOME) Director name: Mr Terry DuddyAmount sold: 79,476 @ 76.24p Value: £60,593Home Retail Group (HOME) Director name: Mr Richard AshtonAmount sold: 40,708 @ 76.24p Value: £31,036Bank of America Corp. (BAC) Director name: Mr Mukesh D. AmbaniAmount sold: 3,919 @ $12.47 Value: $48,857