"I am surprised that this wasn't within a 'Closed Period' as defined by ASX guidelines.
I was under the impression(but obviously incorrectly) that 'Closed Periods' were essentially within three weeks of release of 'scheduled' or 'expected' price sensitive announcements.
I was certainly 'expecting' an announcement within the next ten trading days concerning the commencement of drilling operations by GRMR at Battle Mountain. Considering their tight drilling schedule of five months from 1July to 30Nov, I was 'expecting' the trucks would be rolling to the site of the first well on 1July and that after a four day rig-up that the well would spud on or about 6July.
The previous two Company and Operations Updates on 10Mar and 23Feb have been marked as price sensitive and I would have thought that the coming announcement would be no different but, on second thoughts, maybe just the spudding of a well is not price sensitive info.(although I think the market will re-act).
I suppose I shouldn't care as it wasn't my shares that were purchased."
Agree miningnut, pretty bloody cheeky if you ask me.
Particularly as there has been complete radio silence since the Q'ly on April 30th.
Effectively a director buying some poor sap's tax loss selling on the Friday before the end of FY less than a week before the commencement of the long awaited rig-up of the first in a company-defining 3 well program.
Low rent act.
ETE Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
