Business
Why the Gold Road (ASX:GOR) share price was smashed today
The Gold Road Resources Ltd (ASX: GOR) share price has been hammered on Wednesday. This comes as ASX gold shares sink lower. Additionally, an insider is also selling down their shareholding.
What’s driving the Gold Road share price lower?
The only update from the Aussie gold miner was a Change of Director’s Interest Notice. The update informed the market that the Netscher Family Superannuation Fund had sold 320,000 shares at $1.29 per share.
Mr Timothy Netscher, Gold Road’s Chairman, is the sole beneficiary of the fund. The Gold Road share price has taken a tumble today and was trading down 5% at the time of writing.
The 320,000 on-market share sale means the super fund will retain a 463,000 stake in the group. However,…
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