In mid-December 2015 Altura Mining Limited (ASX: AJM) director Dan O'Neill bought 100,000 shares in his company for what would later turn out to be a bargain price of 0.041 cents.
When Mr O'Neill sold those 100,000 shares earlier this month for 0.281 cents he had sextupled his $4,100 investment, transforming it into $28,100. But those weren't the only shares Mr O'Neill sold, offloading 800,000 more to bring his October sell off to a total of 900,000 shares.
And, although Mr O'Neill was the only Altura director to offload shares this month, he wasn't the only one to have the foresight to snap up a significant portion of Altura stock on December 11, 2015.
Directors Allan Buckler and BT Kuan both grabbed 100,000 shares while Paul Mantell picked up 500,000.
And it seems Managing Director James Brown would be feeling even better than the others about his purchase. He decided to scoop up 1,000,000 shares, turning his $41,000 into $275,000, based on Thursday's close price of 0.275 cents.
Did O'Neill get out at the right time?
The short answer is: Yes.
As mentioned, the Altura share price closed on Thursday at 0.275 cents, slightly down from when Mr O'Neil sold on October 9.
The Orocobre Limited (ASX: ORE) share price has performed similarly over that period. Its share price dropped from $5.01 to $5.00.
And, another lithium company, Galaxy Resources Limited (ASX: GXY) has seen its share price move from $3.02 to close on Thursday at $3.84.
Mr O'Neil would have done well if he swapped his Altura shares for Galaxy stock.
But, if things go to plan, it seems the others may be wise to hold their Altura shares.
Altura Managing Director Mr James Brown announced on Thursday that the company's flagship project at Pilgangoora, in Western Australia's north, is proceeding well.
"With construction around 50% complete in duration, we remain confident of achieving our target of first concentrate sales in the June Quarter next year," Mr Brown said.
"The progress is especially pleasing for our shareholders following our very successful recent $26 million equity raising that will fund progress on our Stage 2 expansion study."
Still, it seems Mr O'Neill took the safest option by crystallising his gains.
He could do even better if he invests his winnings here…
