RE:Chairman Milewski bought nearly 1 million shares last weekas far as I can tell Milewski didn't buy a single share on the market from feb 2020 to feb 2023 (when, according to their last press release, pelham started reaching out to the company). He passed on buying at prices as low as $.14 and as low as $.75 late last year. Now that management is being called out for being a drain on the company he's buying aggressively (and sloppily) at/under $1.20. Nothing happened operationally between late last year (let alone since Feb/March) and now that makes this company more valuable - the only real news (besides the tender) is that Nickel prices are down from >$30k to <$23k which makes the company less valuable but now Milewski is buying with the stock price much higher...
You should come to your own conclusion but I think the logical one is pretty obvious from the above.