mitis,I believe the following applies to a Director...

mitis,

I believe the following applies to a Director buying/selling shares.

General rule:

Directors and employees should not buy or sell ASX securities in a company when the company is in possession of price sensitive information that is not generally available to the market.

Safest times for Directors and employee to deal in ASX securities:

There is no particular time during which it is safe or unsafe to deal in the company securities. The SOLE TEST is whether, at the particular time, a Director or employee is in possession of price sensitive information that is not generally available in the market.

There are other rules relating to release of company reports and trading time restraints that do not appear to affect the current director buying.

As GGP are the operators of Richardson #1, the director of AUJ buying shares today might not know that GGP are going to release a price sensitive report, say, tomorrow; therefore he would not be breaching the ASX rules imo; the AUJ director, theoretically, knows as much as the rest of us i.e. the information is generally available in the market...there is an updated report due in the future relating to revised flow rates etc.

After all - there are no Gordon Gekko types in the Australian market... are there??