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https://twitter.com/heliumone1/status/1613430268248948738?s=46&t=R_2_9RnXWw_ABfNUL2HJjg
Civil work underway!
A large majority of the time they are physically unable to sell due to insider trading rules, of which are certainly in affect right now. If anything your examples outline examples where directors went against the grain and sold, with both investors and the market reacting accordingly.
What do you think he would have done differently if he was £250k deep? David stands to make ~12m shares is it (I forget the exact number) if this goes well… of course he is aligned with shareholders towards a discovery. Oh yeah and it’s his job.
They did buy more during the last raise. I think people forget that realistically you can never sell your own companies shares and therefore it’s exceedingly more risky for the board (who’s job already rest on the company) to invest their personal money into the company too. You guys ever heard of diversification haha!
Said this in another thread. Insiders can’t buy during times of market sensitive news. Contacting and contracting drill providers is 100% market sensitive information and as such there will be no director dealings right now.
I heard from a source I trust that they had received an unfortunate piece of personal news that required a quick need for liquid cash. Reported to have a ~700k share position so has likely been cleaned out if you count the trades.
Honestly just noise… I need to see some solid RNSs with proof of contracts before I allow myself to get excited again. I feel like institutional investors are about to milk this for a churn 100% gain while those of us who have sat here for a year remain underwater or with lacklustre returns…
Thought David presented really well and it came across very bullish. Seems evident from his responses a raise is coming (as we all expect) but will be value accretive in getting a drill into the ground.
I must say he seemed VERY positive about Tai - indicated the inhouse COS is very high. Roll on Q1!!
Yes - a reasonably common trope in O&G exploration. Upfront plan for a multi well campaign with the ability to cancel the later drills in the event of a successful find. In our case 2 wells, the initial well with possibility of a second well if needed.