Ann: Change of Director's Interest Notice - N, page-7

re: Ann: Change of Director's Interest No... Most directors buy on market to indicate to the wider investment community that their stock is cheap and it usually results it more interest in the stock in general

The market however certainly doesnt care anymore what NM does, they clearly think his purchases mean nothing and that he is throwing good money after bad. Most are probably thinking if they put in a sell order at 35c then at least NM will be stupid enough buy them

So why is he buying? I think it is either pride (hoping its not) or that he hopes to make some money (fingers crossed this is the real reason!)

Gapup might be right about a takeover, I cant see why someone like Cliffs or MIN wouldnt put a low ball offer on the table. The register is in such a bad state that an offer of 50c would probably get them over the line