Adding to the CS theory is that he bought about 37m at around 0.43p in 2015. He also appears to have bought 112m at less than 0.30p a month earlier. So he would be out at a profit at the current share price if he does need to cash in for some reason. At the current rate, he'll be finished in 1 to 2 weeks.
I think a share buyback like that would have needed an RNS. My theory is that it's Charles Scott selling down for some personal reason. He had 161m which is just under 3%, so no TR1 required. If it is, then he's got 38m left
Troaj - to be accurate, Mr 3m started selling on June 23 with 2 trades that week. The following number of weekly trades were then 2, 4, 4, 11, 10, and 8 last week giving a total of 123m or 2.2%.
Troaj - I think that bod can't buy if they "know" about price sensitive info. If an updated gold JORC were to be delivered after say 2 weeks, that would be legal as he wouldn't have known the results at the time of the buy.
AA - Vmax is just a deramper trying to get in cheaper after missing the boat. He's scaremongering about how there will be no news for 6 weeks due to a nonexistent close period and now he's implying that MM may take the company private. If you look at his recent posting history, he wrote an outright lie about WRES claiming a $30m grant in the future. A share price rise was always going to attract the dregs of society. Just ignore.
Vmax - just because MM bought shares, doesn't mean no news for 6 weeks. It means that MM is not aware of any news which could affect the share price. A closed period is the time before the publication of financial results, but I bet you already know that.