We all griped earlier in regards to the lack of follow up on insider buying. Did this announcement prevent insiders and the company from buying stock? Can insiders buy now that this press release is announced or will they have to wait until after the deal is consummated?
On another board a couple of weeks ago, I posited that due to the frequent, ongoing acquisitions and significant business announcements (like the increased contract with Datang and today's news,) it may be that any insider or company buying is nearly impossible, because there is a constant stream of significant, material events.
Any insider buying while the negotiations are in progress could potentially be charged with buying using nonpublic material info once any deal is announced.
Now, we're beginning to enter the time period where they are getting a good idea of the Q2 (Oct-ending quarter) results, and are again locked out.
Here's another thought:
If the business continues to build, and the stock price rises, is it really that important that the insiders buy?
Back at $1.30 $1.50 share, No one could understand this price. Shortly after this the company announced the possibility of a share buy back. LLEN was simply positioning itself against the short selling. It worked, and fulfilled all "safe harbor" rules. Short position fell 50%. Share price stabilized, and took a gradual increase. LLEN needed to develop a "counter measure" and did so in a "possible" buy back. LLEN knows what was happening 6 months ago, and knows what is happening 6 months in the future. "Deception was used against LLEN" and LLEN struck back with a 10million buy back. But, LLEN would rather own mines. Dollars in coal consolidation mines are much more the focus than a buy back.
It is my belief LLEN will not buy back any shares, LLEN is in the acquisition mode, in accordance with the consolidation model of the providence. It is also my assumption, we will see the further acquisition of ALL the Union Energy Mines.
The possibility of a company buy-back right now would shock me.
This above is my personal opinion. But, I love this company. It was nerve racking buying in the $1.40 - $1.95 range. But, we will probably not see $1.95 again, If we do? I am in.... I would buy more now, but hold more than most institutions. I have a target sell price, but it is probably 2-5 years off. I do not day trade, much more of a long haul trader. I can take the ups and downs. Best to all.