Perfect time to release this announcement because it's given most people time to come to their senses.
Here are some reasons to calm down. I can't take credit for the first two points but they come from a good source:
1) Sale occurred now because directors have strict trading windows generally only 4 weeks between quarterlies according to ASX rules. September quarterly is due soon. (
http://www.asx.com.au/documents/rules/gn27_trading_policies.pdf - section 4.4).
I suspect Klaus couldn't have waited till after hole 7 results to make this move as the window would have closed. I think this reinforces that the results are good because it would have been risky for him to do this if he was unsure on outcome of hole 7 and they turned out bad.
2) Apparently there will be a vote on October 12 to clean slate the company and prepare it for take over. So there might not be a chance after the current director trading window closes for a director to free up cash, take profit in a more tax effective manner, or move shares to strategic partners before take over discussions begin. I'm not sure on the rules directors have to play by during takeover discussions but I suspect they would not be able to trade/transfer shares to other entities (someone feel free to correct me).
3) He still holds 60+million shares... if bad news was coming he would own much less.
4) Fundamentals haven't changed and should improve further on results next week. It's still a tier 1, high grade resource that dwarfs everything on the planet during an EV revolution. Guaranteed infrastructure spend from the Chinese. Chinese on the board. $15~ million lying around for a heap of drilling.
5) Trading well in Europe currently.
Doesn't get much better than this.
