RE: RE: RE: Freeport CEO shows his optimism Insider Buying?..You are right – based on the Canadian insider activity reported here - it seems a major misrepresentation might have been made by Chad Tracy in the article about Freeport CEO Flores..The article read so well it was convincing, and I cannot vouch for what were the regulatory filings referred to by Chad Tracy or his credibility even if he does write well. A lot of unusual events swirl around Bor so the claimed unusual insider buying by Flores of Freeport was believable.
Some months back I spoke with the Reservoir IR fellow Chris McIntyre about the unusual development of Freeport having two drill rigs prospecting on land that -we are told- Reservoir has 100% interest in. McIntyre told me months ago that had the drilling been done by Reservoir it would be material for Reservoir thus would need to be disclosed, however since Freeport was doing the drilling (and within the context of Freeport it is not “material”.) it did not need to be disclosed! OK so a NYSE company spends hundreds of thousands of dollars drilling for months on a neighbors property and it is not material? For me this is beyond head scratching and is head spinning. A lot is going on at Bor, and the one guy who knows more than we do is the Freeport CEO. If we can accurately determine what insiders are doing it will be worthwhile Quite what the Freeport CEO has done with his share purchases might, or might not, have been misreported, by Chad Tracy.
There are many restrictions on when senior executives can buy or sell shares in their own companies. If anyone knows any links to the relevant regulations governing such share acquisitions please post here the links.