directors notes and shares, page-6

No axe to grind, bandicoot. Mr.Wall as a director of BMA Gold (code BMO) sold a large parcel of shares at or near the 12 month high . Good luck you may say but you must realise that characters like him have info available to them that ordinary investors don't. Shortly after the sale a placement was announced a a substantial discount to the sp. Now do you think he just woke up one morning and said "I know what we will do today. We'll do a placement. I can top up again at much lower price than I recently sold for but that doesn't matter as the timing was just good luck".
On the other hand one could be cynical and say that he knew the price was about to fall due to an impending placement so cashed up. When this happened there were plenty of posts on Hot Copper calling for his blood. Some even went so far as to use the dreaded "insider trading" phrase.
Anyway, fast forward a few months and an announcement was made along the lines of -- um, you know all that gold we were supposed to have?. Well most of it ain't there and the bank wants their money back but we don't have it. BMO last traded in Jan this year at a closing price of 10.5 cents. All those who bought Mr.Walls shares at around 0.38 cents are no doubt delighted with the current situation that they cannot even exit at any price.
Before you reply saying I'm bitter because I took a loss, no I didn't. I thought the whole situation suss and got out with a very small profit. I do however, feel sorry for those still caught. I trust that explaines everything to your satisfaction.