Introduction
On July 27, South Africa-focused manganese ore miner Jupiter Mines (JMXXF) announced that its chairman Brian Gilbertson bought 0.5% of its shares for A$2.9 million ($2.1 million).
Insider purchases are typically considered a very good sign as they show management’s confidence in the business. What I find interesting in this particular transaction is that it’s large for an insider purchase, it was carried out on the open market, and the timing is unusual as manganese ore prices have posted 11 consecutive weeks of declines. So why is the former Gencor, Billiton and BHP Billiton