What does it tell you when Ross Bhappu and Brian Dolan have both collectively put $1.4 billion dollars in their pockets this year. Thats money you've invested and they took it out almost right away. Why would they pull that much money out if its such a good investment?
Are you sure? I just cheacked. these are the only trasactions I could find they are over a month olod and are not sales. One was a transfer at $0.00 one was a purchase by smith which has been well discused. Please supply link to where you saw a sale.
It would be hard because it was in the companies lock up periode.
Aug 30, 2011 HENRY CHARLES R
Director 63,901 Direct Disposition (Non Open Market) at $0 per share. N/A
Aug 15, 2011 SMITH MARK A.
Officer 4,200 Indirect Purchase at $59.02 per share. 247,884
Clearly the reason is to diversify their wealth. If you had $1.4 billion would you keep 90% in one investment ? 50% ?(they hold about 50% of their original buys) Insider sales at this point have little if any bearing on the Company. Per this website Bhappu and Dolan still hold 26 million shares collectively. I'm sure you'll agree they have more skin in the game than most of us.
More to the point as to MCP being fairly valued is the HREE discussion and ramp up
to more significant production. Can Bhap and Dol deliver this? I'm not yet convinced.
Check again. Charles Henry and some other people sold shares 11 days ago in the $38 range. Sure not in the billion dollar range, but they did unload several million dollars worth of shares.
MCP's IPO was successful. Later, Bhappu sold half his shares. Good for him. Insiders are awarded stock and then later they sell.
It has nothing to do with whether MCP is a good bet at $33.45.
If on Tuesday, when insiders are allowed to sell again, they all start dumping shares while we're still in the low 30's, I'd be interested...