I am no expert at this, but the announcement looks like as if...

I am no expert at this, but the announcement looks like as if he's buying some kind of right issue at bargain price to market price (for $2 mils) and sold it on the next day at the market for $3 millions. That kind of behaviour is not something that I like from the owner of the business i invest in, but I can still tolerate it if the company is doing fine (after all, he lost so much of his money in this company, he might want to hold some easy cash now).

The market bounce is massive for people who's in at $0.20 - but it is way too early to say that it will bounce to $3.00 - reading the report that GMG issued recently, their accountant is estimating the share dillution due to the new shares / right issue will reduce the book value to $0.54 ish. Not that this company will be fairly priced at $0.54 (Only real bad company is selling at or below book value anyway) - but to say it is worth 6x book value is stretching the valuation a bit thin.

At the moment the price seems fair, I think the dividend is estimated to be around 4-5% next year (assuming share price of $0.60 ish).