Ann: Carnaby Successfully Completes A$20M Placement, page-238

Absolutely, other companies, analysts and big investors do site visits and get access to knowledge and information that hasn't been released to the market, this isn't illegal. Retail investors really only get a bullet point summary of results and that's only every 3-4 weeks... every drill hole is material however we only get detail on the very best perhaps 1-3% of holes, let alone all the analysis that's done in the background that doesn't get reported (it doesn't all have to be reported). When you are working in companies that are producing amazing early-stage results yet the market doesn't seem to recognise it and the share price is dropping you scratch your head... until you remember that the market gets sweet f'all to go by usually and insiders have a lot more information. I actually think the ASX is a lot better than the TSX on that front. I've seen some crazy stuff done over there that was highly illegal. This is why it's valuable to read price action of early discoveries IMO. If you see multiple quarter million dollar trades going through at market that seems over zealous for the announcement often times the discovery will turn out to be better than originally thought. I've seen this so many times