RE: Insider buys 37000 shares I don't think the purchase was an insider but a buy back.
Petrominerales appears to be unconcerned with its very low valuation and may in fact be taking advantage of it by buying back millions of dollars worth of its stock. Its May31/2012 Normal Course Issuer Bid and Automatic Share Purchase Plan allows for 8,377,935 of the 99,786,313 common shares to be bought back by PMG. The previous year they picked up 3,935,836 shares. They did the same thing back in 2008 when the shares were down as low as $6.00 and over the next 2 years the stock went as high as $34.00. They definitely know how to capitalize on the current valuation of Petrominerales in the market which does not fairly represent the value and potential of their unique asset base.
They haven't posted the October info yet but INK Insider report shows
Sep 28/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 0.00 -1,655,900 -86.9% 250,700
Sep 28/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 8.04 80,000 4.4% 1,906,600
Sep 27/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 7.95 71,000 4.0% 1,826,600
Sep 26/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 7.85 99,700 6.0% 1,755,600
Sep 25/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 8.05 100,000 6.4% 1,655,900
Sep 24/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 8.18 98,500 6.8% 1,555,900
Sep 21/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 8.26 100,000 7.4% 1,457,400
Sep 20/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 8.06 100,000 8.0% 1,357,400
Sep 19/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 8.05 77,400 6.6% 1,257,400
Sep 18/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 8.09 90,500 8.3% 1,180,000
Sep 17/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 8.00 100,000 10.1% 1,089,500
Sep 14/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 8.30 100,000 11.2% 989,500
Sep 13/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 7.88 100,000 12.7% 889,500
Sep 12/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 8.31 100,000 14.5% 789,500
Sep 11/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 9.74 97,800 16.5% 689,500
Sep 10/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 9.75 35,800 6.4% 591,700
Sep 7/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 9.37 44,500 8.7% 555,900
Sep 6/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 9.21 39,800 8.4% 511,400
Sep 5/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 9.03 98,100 26.3% 471,600
Sep 4/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 9.22 100,000 36.6% 373,500
Aug 31/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 9.44 98,500 56.3% 273,500
Aug 31/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 0.00 -661,100 -100.0% 0
Aug 30/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 9.37 75,000 9.9% 836,100
Aug 28/12 Petrominerales Ltd. Direct Ownership Buyback, redemption, or cancellation Common Shares 9.58 - 9.81 151,300 24.8% 761,100