Just a word of caution: If management were to purchase shares...

Just a word of caution: If management were to purchase shares knowing that good news is forthcoming (e.g. GLEN finance), wouldn't that constitute illegal insider trading? The most plausible explanation to me is this: Management perceives the project as their own baby and is committed to supporting it indefinitely (precisely what JP mentioned at the last conference!). They believe in the long-term ROI (even if short-term pain). However, simultaneously, they lack any further updates, whether positive or negative. It is conceivable that securing financing is challenging and more dilutive CRs might be on the horizon. Therefore, they also wish to convey to the market their confidence in the long-term narrative (even if there is significant short-term adversity and angry investors). The good news would be, even with short-term pain the long-term ROI might be still outstanding, is their signal here (hence my buy recommendation).