Are directors dumping their shares?, page-7

Link, yes the directors are required to notify the ASX whenever they buy and sell stock, so I don't believe those rumours are correct.
You could also look at it another way and ask why haven't the directors bought any stock at these prices?

Rick, I understand you need to have a buyer with every seller. Unfortunately if the buyers are getting hit at lower prices and not actively buying up, it really doesn't say much.

One thing I will say, if the funding is getting close, MT and co are doing a fantastic job in keeping it under wraps, because, from my experience, you tend to get a spike in price based upon 'buy the rumour, sell the fact'. There is definitely no buying of the rumour that's for sure.