Ann: Lacroma Drilling Continues to Deliver Positive Results, page-40

I don't think you can look at no director buying in isolation.

I think red flags like no director buying in isolation are not a problem. If there is no director buying alongside other red flags then this would further strengthen concerns I may have had.

The reason I say this is because there could be plenty of reasons a director doesn't buy on market. One just being personality. I know a couple wealthy individuals who own their own campanies that wouldn't buy on market just because they aren't that way inclined. They are technical experts more then anything and just give their cash to a financial advisors to worry about all that "share stuff" and managing a portfolios.

Tldr: I think no director buying might be a red flag when it looks like other stuff might be going on but in and off itself it's rather meaningless.