Hochschild Mining deputy chairman Roberto Danino has generated £3.7m from share disposals in September.
The latest reported disposal raised nearly £367,000. He sold 97,288 shares at 377.02p each. Danino owns the shares via a related party called Navajo International Holdings Ltd. The remaining shareholding is 725,000 shares.
Danino is a former Prime Minister of Peru and the company's former ambassador to the US. He has also held a senior position at the World Bank. Either side of these jobs he has worked for Hochschild Mining. He originally joined Hochschild in 1995.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Hochschild, which floated on the London Stock Exchange in 2006, operates mines in South and North America. The focus is gold and silver.
Last week, Hochschild received an encouraging scoping study and an upgrade of reserves for the Inmaculada gold-silver project in southern Peru. Inmaculada is owned 30% by Hochschild and 70% by IMZ.
Measured and Indicated mineral resources are now estimated at 3.8mt at an average grade of 4.3 g/t gold and 129 g/t silver respectively, suggesting the mine contains approximately 532,000 ounces of gold and 15.8m ounces of silver or 796,000 ounces of gold equivalent.
This new M&I resource estimate represents a 245% increase in gold ounces and 225% increase in silver ounces compared to the previous resource estimate.
Top Director Buys
Securities Trust of Scotland (STS) Director name: Ms Rachel BeaglesAmount purchased: 17,908 @ 98.75p Value: £17,684
Top Director Sells
Petrofac Ltd. (PFC) Director name: Mr Maroun SemaanAmount sold: 2,025,000 @ 1,385.83p Value: £28,063,058
ARM Holdings (ARM) Director name: Mr Tudor BrownAmount sold: 150,000 @ 402.50p Value: £603,750
Hochschild Mining (HOC) Director name: Mr Roberto DainoAmount sold: 97,288 @ 377.02p Value: £366,795
-
A junior ISA could turn your child’s pocket money into thousands of poundsPersuading your child to put their pocket money in a junior ISA might be difficult, but the pennies could quickly grow into pounds – and teach them a valuable lesson about money
-
Cost of Christmas dinner jumps 6.5% as grocery price inflation rises againThe average Christmas dinner for four now costs £32.57 as grocery price inflation increases - but what does it mean for interest rates?
