Wealthy insiders throw their money away all the time doing this...

Wealthy insiders throw their money away all the time doing this sort of thing. John Wellborn bought millions of RSG shares on market while he was CEO that tanked in value. Gerry Harvey would do similar with Harvey Norman shares (although economic stimulus has helped that business of late). I'm all for management ownership but this is not the sort of sort of buying I like to see. I mean I assume there was some sort of commitment between the directors to take this coordinated approach. Someone who cared about their entry price would probably wait for the dust to settle a bit before buying (companies that fall 20% on a feasibility release rarely recover in the near term in my experience).

The upside thing at this point is a bit unclear. How many ounces are they going to be add by next quarter for the stage 2 study? A lot of inferred material was already included in the feasibility study so if they are just upgrading those to indicated it doesn't actually improve the Life of Mine ounces.