Does Peter Mullens read IKN?

Smile for the camera please, Peter

So back on August 17th, this humble corner of cyberspace noted some serious insider selling going on by Peter Mullens, director of Lydian International (LYD.to) He'd sold on some good news about drill results at LYD which left us all scratching our chins and going "hmmmmmmmmmm".

But fair is as fair does, so let's note that Mullens has already bought back 127,000 of the 350k shares he sold into the rush. Let's also note he bought back his stock on the very day IKN ran its post (yok yok). Maybe he's the publicity-shy type? Anyway, more seriously it's good to note the vote of confidence Mullens is making in his stock here.

Aug 24/09	Aug 17/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Acquisition in the public market	3,000	$0.680
Aug 24/09	Aug 17/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Acquisition in the public market	58,500	$0.650
Aug 24/09	Aug 17/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Acquisition in the public market	4,000	$0.630
Aug 24/09	Aug 17/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Acquisition in the public market	18,500	$0.620
Aug 24/09	Aug 17/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Acquisition in the public market	43,000	$0.610

Mr Mullens says thank you

When Lydian Intl announced this at the bell last Wednesday morning....

Lydian Drills 82 Meters at 2.5 g/t Gold and Extends 1M Ounce Resource at its Amulsar Discovery in Armenia

Further mineralisation identified: 94 meters at 1.5g/t gold intersected in drilling 500 meters south of the current in yada yada continues here

....its share price did this.

Whoosh. And any time an instant double happens to a stock I'm always impressed. But just as impressed was company director Peter Mullens...

...who decided it was a great time to bail on a cool 350,000 shares....

Aug 14/09	Aug 13/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Disposition in the public market	-25,000	$0.700
Aug 14/09	Aug 13/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Disposition in the public market	-22,500	$0.700
Aug 14/09	Aug 13/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Disposition in the public market	-2,000	$0.710
Aug 14/09	Aug 13/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Disposition in the public market	-500	$0.720
Aug 13/09	Aug 12/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Disposition in the public market	-15,500	$0.760
Aug 13/09	Aug 12/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Disposition in the public market	-27,500	$0.750
Aug 13/09	Aug 12/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Disposition in the public market	-9,500	$0.630
Aug 13/09	Aug 12/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Disposition in the public market	-19,000	$0.620
Aug 13/09	Aug 12/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Disposition in the public market	-21,500	$0.650
Aug 13/09	Aug 12/09	Mullens, Peter James	Direct Ownership	Common Shares	10 - Disposition in the public market	-49,000	$0.850

Etc Etc Etc

...on August 12th and August 13th (before the nice prices dried up). So take it from the experts and take profits when you can. If it's good enough for the directors of the company, it's good enough for you.