Two ASX mining directors have been splurging on their own company's shares in the past fortnight.
It's pretty much always a good sign when company directors spend their own money buying more shares in the businesses they run.
It signals their confidence in the future of the business — and they'd know better than us, right?
So, let's take a look at a couple of recent purchases made by these ASX mining directors.
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Galan Lithium Ltd (ASX: GLN)
According to a notice lodged with the ASX, Galan Lithium managing director Juan Pablo Vargas de la Vega has been buying more stock in the ASX lithium miner.
He bought 115,000 shares on-market for a total sum of $104,556 on 14 July.
So, using a rough average estimate, he paid about 90.9 cents per share for his new Galan stock.
Galan Lithium shares fell 4.62% on Thursday to close at 82.5 cents.
The ASX mining stock is down 20% in 2023 so far.
Genesis Minerals Ltd (ASX: GMD)
The non-executive chair of Genesis Minerals, Anthony Kiernan (AM), has also been buying his company's shares.
An ASX lodgement shows Kiernan bought 75,000 Genesis Minerals shares on-market on 7 July.
He paid $89,232 for the shares, indicating a rough average price of $1.19.
The Genesis Minerals share price closed at $1.44 on Thursday, up 7.87%.
The ASX mining share is up 12.6% in the year to date.
