CXO prospects, page-99

I doubt the BOD will be aiming at being taken over. If they were they would have been loading up to profit from the premium.
If they get taken over they are all out of a job.
The first thing Directors and senior Execs of Juniors learn is how to string things out as long as possible in order to keep the pay cheques coming in. If holders are lucky on the way some good things happen, but you need luck.
If a placement is made to sophisticated investors etc to fund gold drilling etc and the BOD take part in the placement then i think that would be a good sign.