Pilot Gold: 8 Different Insiders Have Purchased Shares During The Last 30 Days

Apr. 6.14 | About: Pilot Gold, (PLGTF)

Summary

Eight insiders purchased Pilot Gold stock within one month.

The stock was sold by no insiders in the month of intensive purchasing.

Six of these eight insiders increased their holdings by more than 10%.

Pilot Gold (OTCPK:PLGTF) engages in the acquisition, exploration, and development of mineral properties in Turkey and the United States.

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Insider buying during the last 30 days

Here is a table of Pilot Gold's insider activity during the last 30 days.

Name Title Trade Date Shares Purchased Prospectus Current Ownership Increase In Shares
John Dorward Director April 2 12,500 Yes 112,500 shares +12.5%
Alexander Holmes VP April 2 4,500 Yes 26,500 shares +20.5%
Matt Lennox-King CEO April 2 30,000 Yes 243,184 shares +14.1%
Mark O'Dea Chairman Mar 5-Apr 2 134,000 Yes and No 1,306,639 shares +11.4%
Rob Pease Director April 2 20,000 No 66,100 shares +43.4%
Patrick Reid VP April 2 4,500 Yes 127,500 shares +3.7%
Sean Tetzlaff Director April 2 32,500 Yes 386,965 shares +9.2%
John Wenger CFO April 2 15,000 Yes 60,500 shares +33.0%
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There have been 253,000 shares purchased by insiders during the last 30 days.

Insider buying by calendar month

Here is a table of Pilot Gold's insider activity by calendar month.

Month Insider buying / shares Insider selling / shares
April 2014 249,000 0
March 2014 4,000 0
February 2014 0 0
January 2014 0 0
December 2013 0 0
November 2013 0 0
October 2013 5,000 0
September 2013 0 0
August 2013 0 0
July 2013 0 0
June 2013 0 0
May 2013 0 0
April 2013 5,000 0
March 2013 0 0
February 2013 0 0
January 2013 0 0
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There have been 263,000 shares purchased, and there have been zero shares sold by insiders since January 2013. The month of April 2014 has seen the most insider buying.

Financials

Pilot Gold reported the full-year 2013 financial results on March 17 with the following highlights:

Revenue $0
Net loss $9.1 million
Cash $19.0 million
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On April 2, Pilot Gold closed a C$20 million financing.

Outlook

Pilot Gold's 2014 exploration budget is as follows:

Project Exploration Budget
Kinsley $3.5 million
TV Tower $5.5 million
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Competition

Pilot Gold's competitors in Nevada include Paramount Gold and Silver (NYSEMKT:PZG), and Midway Gold (NYSEMKT:MDW). Here is a table comparing these companies.

Company PLGTF PZG MDW
Market Cap: 117.83M 194.66M 130.33M
Employees: 31 20 38
EBITDA: -6.15M -12.13M -16.69M
Net Income: -9.14M -17.80M -487.44K
EPS: -0.11 -0.12 -0.05
P/B: 1.67 3.23 2.03
Insider Ownership: 3% 15.95% 14.95%
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Pilot Gold has the lowest P/B ratio among these three companies.

Here is a table of these competitors' insider activities this year.

Company Insider buying / shares Insider selling / shares
PZG 30,000 0
MDW 0 0
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Only Pilot Gold has seen intensive insider buying during the last 30 days.

Conclusion

There have been eight different insiders buying Pilot Gold, and there have not been any insiders selling Pilot Gold during the last 30 days. Six of these eight insiders increased their holdings by more than 10%. Pilot Gold has an insider ownership of 3%.

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(Source: Investor presentation)

The eight insiders purchased their shares at prices ranging from $1.39 (C$1.53) to $1.46 (C$1.61). I believe Pilot Gold could be a good pick below $1.46 based on the intensive insider buying.

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(Source: Investor presentation)

Disclosure: I am long PZG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.