Noting two on market purchases for Envirosuite directors recently.

CEO Jason Copper and outgoing Chairman David Johnstone picked up $10-12k worth each at about 8c/share.

It's always nice to see insiders buying on-market with their own funds, but if I were cynical i'd say it feels more about market signalling than simply the private investment decisions of Jason and David.

These are tiny transactions. Jason is on a fixed salary of $363k, plus 50% extra under a STI. As far as I know, this is his first on-market purchase (the current 1m shares held were granted as part of his remuneration package). I mean, great to see him buying on-market, but $12k is pretty weak.

David already owns close to 7m shares, so it's not going to move the dial either way. It is a nice sign given his intention to step down later this year, but would have been better if it was a more meaningful swing of the bat.

I'm probably nit picking here, and not suggesting any grand conspiracy at all. But if this were purely about directors buying shares because they consider them cheap, then at least make it worthwhile for your own sake. It's like me picking up an extra $500 worth -- what's the point?

If part of the rationale was to show confidence to investors, which is what it feels like, then such tiny amounts ain't going to do it.

I don't pretend to know their personal financial situations, but had we seen transactions of at least $50k or more, i'd take more notice.