Hilly There is nothing illegal about directors or shareholders...

Hilly
There is nothing illegal about directors or shareholders buying their own company stock. They buy, they sell, they tell the asx and that happens a thousand times a day.
Do they have information that you or I don’t? It would be naive to think they don’t.
Does information leak from companies? Of course it does. Everybody from the security guard to the CEO talk to colleagues, wives, husbands, etc, “how was your day dear....”
Do high net worth investors have teams of analysts searching for an edge (determining if coal prices are likely to drop significantly and they will lose their money - as u stated) you bet they do. Do they know how much it costs to mine coal, wash it and rail it to port, yip. As I don’t, I think they have an advantage over me but I don’t think it’s illegal or insider trading. Would they invest millions in a company without doing due diligence, not a chance.
Where was the first reports of TER having to truck coal from BA because they could not use Glencores tlo? The first I heard was from the media who happen to reside up there. Is that insider knowledge? No, as the company released the info when it was satisfied the discussion with Glencore had reached an impasse. In fact there where numerous posts on HC stating that they would not get to use the TLO before the asx release. Insider info or speculation? Speculation was my opinion at the time and I didn’t change my investment in ter because of it. Some others may have as I remember the price dropped on the news.
There was also a poster on HC that claimed an Asian group where buying up TER to take it private. Turns out an Asian company did indeed take a large position and has been accumulating ever since. Will they try and delist? Time will tell.
It is also a barometer of a company if the directors are financially involved and many brokers use this info to determine if the board are showing confidence in the business. Unfortunately a lot of people have determined all insider trading must be illegal when it is not. Every public company has a trading policy for execs, etc, which govern when they can or cannot buy or sell their stock. So please refrain from implying I think Singo is a crook. I think he’s a clever man who knows more about the coal industry than me and I’ll keep watching to see if he is buying or selling.