If news of material significance was in the pipeline that would obviously preclude him from buying shares at this time. On the other hand it would also seem that the absence of news when the market is expecting material news (ie an update on the status of the negotiations with the Pangang Group concerning what is arguably potentially the the most valuable asset of the company) would also seem to be of material significance. Is Mr. Smith so out of touch as to be oblivious to the fact that shareholders would be expecting an update on those negotiations , that it slipped his mind that he shouldn't be buying shares under these circumstances? Perhaps others here have a keener understanding as to what might and might not be considered material ,as I suspect that the matter is somewhat subjective. In any event, legal or not, in my mind out of respect for his shareholders he should have provided such an upsdate prior to buying more shares!

Cheers,

Luker

p.s. He also would have been privy as to whether or not KWG provided intent to make the Option payment , as the deadline was yesterday!