I dislike the timing of this…exercising 0.5c options ~4-days after announcing that “Drilling of 4 Compelling Targets Commenced” is a very poor look (imo).
Ok, its not selling on market, but it is nevertheless a change in holding via option conversion, from an exercise base that is less than the current sp, during active drilling. There could be any number of reasons why DT decided to do this, personal, show-of-support etc and whatever the reason is that’s fine by me…but why not get this done before announcing the commencement of drilling.
Once a potentially market sensitive campaign is underway there really ought to be complete black-out, that prohibits the movement/change in shareholdings by insiders…i.e. management, employees, contractors and other related parties etc.
We are talking about RC drilling of potentially high-grade gold targets where visuals may inform either directly or as proxy for ‘mineralisation’. Any, and all, the on-going communication during these active drilling campaigns can be considered sensitive, anything from progress reports, logging details, photos, calls between office and site, preliminary XRF results…i.e. it is not just assay results that are potentially market sensitive. Keep in mind, its DT who is the listed competent person that signs off the asx announcements.
To me, whether or not the increased investment is then considered a positive action to DRE more generally is neither here nor there at this stage, its just the timing that I think could have been handled better.
glah
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I dislike the timing of this…exercising 0.5c options ~4-days...
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