By Ben Turney | Tuesday 2 September 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
This morning, Sirius Minerals (SXX) announced that its Chairman, Russell Scrimshaw, yesterday bought 2.1million shares on the open market at an average price of 11.75p. Worth £246,750, this is another impressive show of faith by Mr Scrimshaw, who also participated in March’s 12p placement. In total he now has an indirect interest in Sirius of 39.4million shares, roughly 2.1% of the company’s issued share capital. The question now is, is Sirius a buy?
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