There are acceptable/palatable reasons for 'selling' shares as a director, but only a few.
And usually, unless its a dead sh*t company, some commentary is offered by the company as to the reason(s).
At face value, he sold a significant number of shares (perhaps some of his free shares) for a price that was approaching the 12-month low (and below the share price at the time), in advance of important assay results being released to the market.
There is a reason that directors are required to issue these disclosures to the market - it's not unnecessary paperwork of no value. There are reasons why director are not able to buy and sell shares within a window around material announcements.
Directors are in a position to be - by law - the ultimate insiders. Is insider trading good for other market participants? Of course not.
I'm not being emotional at all - perhaps you are.
So I stand by my comment - not a good look.
Same with the company promising things that it does not end up delivering on.
Feel free to change direction if the circumstances warrant it - in the interests of the company - but explain why that change was made because people make investment decisions on what the company tells the market it intends to do.
This company could and should do better.
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14.0¢ |
Change
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Mkt cap ! $72.47M |
Open | High | Low | Value | Volume |
14.0¢ | 14.0¢ | 13.3¢ | $81.48K | 603.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 1809100 | 13.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.0¢ | 625000 | 4 |
View Market Depth
No. | Vol. | Price($) |
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11 | 1659100 | 0.130 |
4 | 452000 | 0.125 |
3 | 1109666 | 0.120 |
7 | 888204 | 0.115 |
7 | 670908 | 0.110 |
Price($) | Vol. | No. |
---|---|---|
0.140 | 625000 | 4 |
0.145 | 338314 | 9 |
0.150 | 837583 | 9 |
0.155 | 205000 | 3 |
0.160 | 230000 | 3 |
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