That is the reasoning I brought up in a previous post. Do you know if the insiders are required to file Form 4 if they exercise their rights and buy the shares? If so, I would be watching for them after the 31 Aug deadline. Also, (can anyone confirm or correct me?)I am assuming institutional investors have the same rights, so I would also look at institutional investors holdings to see if they took advantage of the offering. They may tell you if your thoughts about the offering were in line with theirs.
Actually, there's a good possibility that Angold is raising money to participate in the rights offering at $1 per share. Even if you are high up in a tech company, most people don't have $278,932 dollars sitting around to buy more shares at $1 a piece (and the number was higher more recently of course).
My father was CEO of a public company for multiple years before he bought a used luxury car. Successful people are largely pragmatic. Bill Gates still wears jeans.
So after much consideration and a few calculations: I'm not worried about Russ' sale short term at all, in fact I'm actually excited by it. Time will tell.