Shares in diversified mining services company Ausdrill Limited (ASX: ASL) opened up 0.7% today to sit at $2.73 at the time of writing in line with its 12-month share price graph which has been steadily rising from a 52-week low of $1.26.
Ausdrill shares have risen to almost 12 times the value of what they were 2 years ago – up 86% in the last year alone – and the company appear to be going from strength-to-strength with solid half-year results and good future prospects in the pipeline.
But significant movements on the Ausdrill register lately could have some investors wondering if it's time to take a little profit, especially if they have had a good run with their investment.
Company founder Ron Sayers sold his entire shareholding on February 26 – more than 37 million shares – with Barminco founder and Ausdrill shareholder Peter Bartlett also selling 20 million shares on March 8.
These two sales represent close to 16% of the share pool and with around 60% of Ausdrill's revenues coming from South Africa, Mali, Ghana, Senegal and Burkina Faso –more prudent investors may choose to follow suit and jump ship.
