directors buying, page-4

Sphere (SPH) has a market cap of over 500 million and they only own 25% of the project. Sphere in production is targeting 7 MT's of DR pellets. Sphere is railing the ore 500 odd Km's. Grange is 6 - 6.8 MT's of DR pellets 100 km's from port and at this stage own 70%. Grange's market cap is less that 200 million. It appears Grange is undervalued. There is now more talk of financing and 3 directors have just bought. The last director has bought something like 75% of his shares at $1.65 per share. This gives me confidence in my holding.

What doesn't give me confidence is the current share price or the volume of sellers around $1.70

I'll pass on what Anthony's (Chairman)responce was with regards to the $1.70's yesterday:
"The 175.000 on offer since one or two weeks is eithet a silly seller or done on purpose to keep shareprice down."

Over the past weeks the only big chunks bought have been by the directors. Even less people are watching this stock now than before.

(recent announcement) Standard Chartered Bank did NOT say there is no way Grange will get finance. STB's feed back was that it IS a good project and has many financing options.

open to comments.