ann, page-25

Zeno.

I think you have hit the nail on the head.

Rather then put in his own disposable cash he decided to re-allocate his money already invested in the market.

How many of us on here would be guilty of that?

Agreed the timing was terrible but that seems beyond his control when you look at the rights closing date.
My guess is he has left it to the last possible day allowing for settlement etc to have his funds available for ROY.

Hell, imagine the uproar if he sold 2 days before that.

Or what if the assays come back 30% and he sold 90,000 shares at $1??

I bet there would be someone on here saying,
"this sounds sus...great results...director selling...I bet this is another BRE-X and Richardson is another Guzman....it all sounds too dodgy"

One of the biggest problems when directors sell stock is people overlook that they have a life also and could be selling for any number of personal reasons that we all have and live with ourselves..

Not defending him here but just trying to make a point and give a balanced discussion on the matter.

If I have any criticism it would be that the announcement could probably have been worded slightly different so as to at least give a comparison in value to something like gold that most people you would hope have a better understanding of grade and what is average and what isn't.

The flip side of that statement is that people who do not understand U308 mineralisation, grade, calcrete, roll front etc should NOT be investing in U308 exploration companies.

The biggest issue here is that if you CANNOT meet the markets expectations then the market will cane you for it.
Make a statement that you can't deliver on and it will punish you.

This is what happened. Nothing more nothing less.

They still have $25M,
they still have great tenements,
they still have Thunderball
AND
they still have 2 diamond drill rigs drilling flat out on a great discovery with outstanding U308 grades.