logic and experience of a ceo

I normally dont buy falling knife situation but in this case I have made an exception. BMN has been sold down on its ASX announcement on 14/12/2009 regarding its Pre Feasibility Study Report. Having previously traded & liked the BMN story I pricked up my ears to see BMN selling for under 70 cents, I believe this situation could have also been made worse by a certain unnamed newsletter recommending a sell on BMN in the last few days. These type newsletters just drive the inexperienced trader to join the masses in the selling frenzy & drive the prices lower.
It was the announcement by BMN on the 17/12/2009 that really had me thinking. Why would the CEO Len Jubbers spend $114,168 of his own money in the market to buy 154,000 BMN at 74 cents unless he also thought it was a bargain? I doubt Mr. Jubbers bought these shares for a 10% bounce but more for their long term potential.
A read of Mr. Jubbers background posted below shows he is not only a very experienced operator but he spent 8 years with the Rio Tinto Rossing Uranium Mine located less than 20Km to the north east of BMN Etango Project.
Len Jubbers:
More than 20 years experience in the minerals industry both in Australian and overseas. Prior to joining
Bannerman, Len was the Managing Director and Chief Executive Officer of Perilya Limited from May 2005
to March 2008, during a period of record profitability for the base metals miner. Len also worked for seven
years with OceanaGold Limited, ultimately becoming Chief Operating Officer and an Executive Director of
the company. Prior to OceanaGold, Len spent eight years in southern Africa with Rssing Uranium Limited,
a subsidiary of Rio Tinto and operator of the Rssing uranium mine, which is located less than 20km to the
north-east of Bannerman's Etango Project.
Degree in engineering and a post graduate degree in business administration. (refer Annual Report 2009 Page 2)
I have gone long BMN as it has not only gapped down & is grossly oversold but at some stage I expect I show be able to trade a nice bounce in BMN, once normality returns to this stock & the newsletter sellers have disappeared.
Regards
Buffett
PS: No investment advice given on BMN please do your own research
PPS Hope Tibbs is travelling okay on his break & not concerned about BMN.