annual general meeting, page-62

"..& am buying if this falls further as GUS et al will move heaven & earth (to get the first carrot at least). Just keep an eye out for Directors selling as that will be the exit signal"

Be careful mudguts. Management do not need the SP to go back to 8c tpo profit from the PR's. All the PR's vest (i.e 36m shares for Gus), in the event of a takeover.

So even with a takeover at 4c, Gus will walk away with a cool $3M.

I am not saying this is the core strategy, but it was obviously included as at least as a fall back option. For him, and to some extent the other directors, its a matter of heads, I win, tails I win a little less.