As for the ex-directors selling,
Kevin Joyce sold off his holdings (or enough of them not to be in the T20) between 25th August and the release of the November T20, the share price in that time was in the range of 24 - 47c.
As we were all aware, Joyce had some tax issues and may have needed to cash in as well as he was now looking for a job. His linked-in bio says he is running a Geologist Consulting business, but no current permanent employment (relying on link-in information being updated of course)
Winton Willisee has been smarter with his holding and has only sold off a portion (550k) bear in mind he also had other holding accounts, but he is still in the T20.
Hugh Bressner - well who knows, h was never in the T20, so tracking his selling is impossible.
IMO it was the ex-director that was elected after the board were removed that converted his options and sold them off, although we are only surmising as there is no way we can tell who the actual seller was (there were 3 parcels of 1.5m issued to Minemark partners) and as
@malay has indicated, possibly spite considering the said person would still be eying off HotCopper and with the "turf wars" and the illiquidity of BGS caused an impact, couple that with Hartley's being the other to convert options (and we know their form)
The balance of the options @33.6c and 33.6c expire in June, and I think that will basically leave us with just the "current board" holding options.
cheers
(20min delay)