Contrary to my earlier posts as to reason why directors are buying now (which I still support) namely that it is an immediate attempt to stimulate investor interest (rule of thumb is that investors take positive leads from directors buying), it is also true (as highlighted above in Matt's) that they may only purchase when the window is open. As Matt indicates, and mindful that directors may not purchase when they are in possession on material non-public information, - that window may indeed be very sensitive and very small.
I agree with an earlier poster - Don't expect any significant, material, info to be released in near future. BUT: The view might be taken by the board that, following their recent announcements and investor releases, they have fully disclosed to the extent possible and that newsflows in days /weeks to come would merely be CONFIRMATION of earlier disclosures. (e.g signing of Congo convention, signing of mine EPC contract etc etc).
The next major announcement should then be the Financing structure and equity sale which will be market sensitive- and that seems to be still a way off - Thus, and before the latter events creep up too close and perhaps more quickly than as stipulated in the announcements/pressos, the directors are thus left with a limited, small window of opportunity.
Current share purchases by directors could thus be driven by dual motives.
JIMO
SDL Price at posting:
8.2¢ Sentiment: Hold Disclosure: Held
