why has one of the directors (Colin Vost) sold 7.8m of his and other parties he is related to shares in Barraka before the last announcement when he already had the preliminary results of estimated reserves.????????
Surely this is a breach of ASX Listing Rules, even though the estimates were preliminary, he is still in posession of information the rest of the market does not have!
The Company's sharetrading policy says that "The Share Trading Policy provides that directors and employees may trade in the Company's securities but are restricted from acting on material information until it has been released to the market in accordance with ASX continuous disclosure requirements and adequate time has been given for this information to be reflected in the price of the Company's securities."
I consider a prelimiary reserve estimate material information!! A director selling really isnt sending a good signal to the market but only that their own pockets are being lined! ASIC should be informed of this.
BKP Price at posting:
0.7¢ Sentiment: Sell Disclosure: Not Held
