If the holes were drilled on the border like people who own FNC want to happen ,then why would the insiders of FNC sell at every share price move up.

I can think of some reasons for that. None of Smith, Chapman, or Dubuc are paid a salary. Their only compensation is in the form of options (other than Smith, who receives some benefits paid by the company). It's almost certain that the only time you're going to see someone exercising their options is when they're in the money, i.e. when the price moves up. (I have seen options exercised that weren't in the money, but that's rare, for obvious reasons.) With the total values involved here, I'm not the least bit concerned that this represents insiders bailing out. Maybe they have a mortgage to pay, or college tuition, etc.?

Also, there is an open financing at the moment. Until it closes, we're unlikely to know if these transactions were in support of purchasing into the PP. The revenue from the exercise of options flows to the company treasury, as does the net proceeds of a private placement. One could see this as very strongly positive support for the company, rather than as a loss of faith, if in fact the participants bought into the PP. But even if that's not the case, this remains their only form of compensation for the positions they hold in the company. There is only one reason to buy, but many reasons to sell.

Lar