Whenever an ASX insider buys or sells their own company's shares, ASX investors tend to want to know about it. After all, insider buying is usually a good sign for a company's future. It tells both shareholders and the wider market that those with their fingers on the pulse see enough value in the shares to part with their own capital.
Conversely, insider selling can cause a loss of investor confidence, as shareholders typically ask themselves why they should keep their money locked up in a company if those at the top aren't doing the same.
Fortunately for investors in zinc-oxide powder producer Advance Zinctek Ltd (ASX: ANO), it is the former scenario that is relevant today.
ASX insider loads the boat with his own company
ASX records show that over May so far, insider Lev Mizikovsky has purchased Advance Zinctek shares no fewer than six times. The most recent ASX notice came just last week on 23 May. This showed that Mizikovsky acquired 31,680 Advance Zinctek shares for a total cost of $60,927.
It gets better. The 17 May notice revealed Mizikovsky bought 120,517 shares, which was a purchase worth just over $240,000. Mizikovsky has certainly been on a buying spree this month. The largest purchase appears to be the one that occurred on 10 May. This showed Mizikovsky picking up almost 300,000 shares for a value of just over $593,000.
As of the latest notice, Mizikovsky now owns just under 33 million shares, both directly and indirectly, of Advance Zinctek. That's a stake worth almost $60 million.
So Mizikovsky is the non-executive chair of Advance Zinctek. He is a rather interesting character, being an enthusiast of motorcycle riding, specifically Harley Davidsons. As reported in the Australian Financial Review (AFR) a few years ago, Mizikovsky went to court over a $219 traffic ticket he received in 2016. The case was only resolved in 2020 after numerous legal battles.
Still, no doubt Advance Zinctek shareholders will be elated to see the level of financial skin Mizikovsky has in the game with this company.
Advance Zinctek share price snapshot
Advance Zinctek shares have had a rough 2023 so far, which probably at least partly explains Mizikovsky's enthusiastic buying spree this month. Year to date, the Advance Zinctek share price has lost more than 21% and is going for $1.865 a share at the time of writing.
At this share price, Advance Zinctek has a market capitalisation of $116 million.
