Given a director must base this sort of purchase on the information that is generally availble, I will take this to mean that he thinks the price is lower than makes sense based on what we know, and he sure as hell knows nothing that makes it worth less.
It is hard to see this as anything but a good sign.
The point has been well made by Paul that we are now down to almost net tangible asset value, so short of terrible announcements or failure to implement a decent plan, there is more upside than downside.
I am now less worried about bad news, even if there is a change in reserves.
Is it time to buy? For me some more.
FDM Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held