a director can't buy or sell when they are in possession of...

a director can't buy or sell when they are in possession of knowledge of a material event. If a director buys or sells it means that there is nothing happening on the short term horizon other wise it becomes a matter of insider trading. Lots of people get excited if a director all of a sudden buys some more shares, it means that nothing is happening with the business short term... a director hopefully knows the long term outlook which is the positive bit of them buying.

If a flood of directors shares hit the market just before drilling started then thats just them selling out for personal reasons. If those shares hit the market while drilling results were being analysed but yet be reported to the ASX then thats a bit suspect and would require an explanation. If the director had the assay results and THEN dumped shares BEFORE an announcement had been filed and posted etc that would be a bit of fun with ASIC and APRA...