[miningmx.com] – CHRISTMAS came early for Exxaro Resources CEO, Sipho Nkosi, who sold shares in the company worth a total of R7.88m.
Some 50,618 shares were sold on December 5 for an average price of R156.38/share, a slight premium to the close on the day of R154,73. Shares in Exxaro gained 3.3% in early trade on the JSE to R159.83/share.
Shares in Exxaro fell to their lowest level in more than three months last week in the wake of an announcement that its full-year earnings would fall as much as a fifth owing to weak commodity prices.
Exxaro derives the bulk of its profit from its coal and mineral sands operations, which have seen prices fall due to oversupply in the market.
