With the stock either closing at 0.04c or less for this period, the mining engineer would have spent less than $80,000 in his Guildford stock buying spree.

“The management team and board are delighted with Julien’s decision to invest not only his professional time, but also hard earned money into the company,” Guildford group managing director Mick Avery said.

“It shows confidence that the company is on the right track to deliver shareholder value, which should be reassuring for investors.”

Lawrence, who was recently interviewed by Bloomberg Mongolia with the video available online, started the insider buying after Guildford picked up two new Mongolian exploration permits last month.

“Most recently, the company signed a memorandum of understanding to acquire an 80% stake in a large thermal coal project and an associated power generation project with regulatory approvals already in place,” Guildford said.

“Over the past six months, Guildford has focused on Asia – restructured its board and management team, and established a regional office in Singapore, a strategic move to be closer to shareholders, financiers, existing mining operations and customers.”