PIROA

People were dumping PIR by the bucket loads. Yet the directors were buying and buying and buying. And still the share price continued to fall. Why would directors keep buying if the company's prospect is that bad? Is it to deceive shareholders or do they know something that we don't?

I did sell my ordinary shares and topped up using the options when I found the directors were topping up, too. Net effect is I own more shares in PIR than before because I could buy more options than ordinary shares.

http://www.asx.com.au/asxpdf/20110519/pdf/41yr4088h7v3z6.pdf

The JORC-compliant resource announcement disappointed the market but today, another area was drilled and the result is wonderful. So I have made one lot of profit selling (could have been higher!) and now I can expect to be rewarded for having faith in the company... and following in the directors' footstep. As usual, I don't expect anyone to follow my footstep. The logic was obvious. There are some cheating board members but there are more who are financial astute. Why would they spend their own money buying the company shares if the future is awful? And not one director but several. So I feel vindicated today.