Today's trades have been posted. RBC sold 239,500 shares in the last hour of trading.
I don't think it is Wega, but more likely an existing shareholder exchanging shares for 23-cent PP shares (ie selling shares to raise the funds for the PP).
It's worth the 2-cent hit to get the free 40-cent warrants.
Expect more of this until the PP closes.
7 comments:
Only saw the last 10 trades. Does anybody know if e-trade picked them all up?
roxy, all of the trades can be seen by clicking on the "Today's Trades" link under the Information Links.
E-trade bought the last 50,000 shares traded.
Program selling? After 15:23:54 RBC sold shares every minute to almost the precise second, till 15:53:54.
Thanks Carib.
Noticed that Nino, wonder
how long that will go on for.
Hi rhump,
If we continue to lose 1 penny per day (or even 1/2 penny) on our share price then I don't think May 29th would get here soon enough for 98% of the people that voted. Shareholders might have to call an immediate Special Meeting.
What amazes me the most is I'm not really sure they realize that these are very delicate times for shareholders. You know, with the BCSC/CTO situation, negotiations about Rosario and Algamarca payments seeming to drag on, Sulliden's substantial rise in share price (who knows what that means for us?), 3.5 months delay with the SJ 43-101 rpt (and counting), numerous cheap PP's (latest at $.23, with full warrants for the unit offer), share price at $.20 and dropping, absolutely no updates on operations in Peru for a while now (although one is due out next week)......
If I was in charge of a company in such a situation, the least I would do is provide a bi-weekly update to my shareholders on my bread and butter operation (Lamaque). I would provide a bi-weekly update until Lamaque becomes profitable, even if I have nothing new to say in some of my updates. It's all about communicating with my lifeblood (my shareholders), and not keeping them in the dark. For example, I would have issued an update yesterday, with regards to progress in the first 9 or 10 days of April. It doesn't always have to include tpd (although it should include it as much as possible). There are plenty of other info to update shareholders on, such as recruiting, training, areas being developed, equipment purchased and/or mobilized, issues/challenges workers are facing.....
Anyway, it is just how I would handle a situation like this. I just feel that silence leads to uncertainty, skepticism and a $.20 share price.
Production05
I said yesterday that I didn't think the late day selling by RBC was on behalf of Wega. I change my mind.
Today's continuing selling by RBC is unquestionably more Wega selling. The programmed selling is unmistakeable. They have put a 20-cent lid on the share price.
I don't know how they can get away with this while under a MCTO. I guess you "neglect" to file insider trading reports.
I'll post the trades after the close so you can see for yourselves.
Hi Carib,
Unfortunately, I have no idea how they are doing it either, but nevertheless, here are some out of the box thinking:
1) Given their unusual behaviour effective early Feb'08, IMO, there is a chance (be it true or not is impossible to know) that they might have known about the complaints against Century. If such is the case then they could easily anticipate that it would eventually lead to a MCTO situation. As such, is it possible that they moved some of their shares to well connected non-insiders or at least have some of those non-insiders purchase their own Century shares in advance for this sole purpose. If they had knowledge in advance then I can see this being easily possible.
2)Could the MCTO have ended 2 days ago without an NR, and is there an obligation to send out an immediate NR.
3) A couple of people have mentioned that they were not able to trade because the accounts were mistakingly locked as insider accounts. Could the opposite have happened with Wega, where their accounts were not frozen, and they just discoverd it 2 days ago?
Anyway, just some wild and crazy thoughts that came immediately to mind.
What's the deal with Wega anyway. I blame them just as much as PK for the $.23 PP. We had just come off the great news about our 43-101 results for Lamaque, when the share price crimbed to $.55. The share price was still relatively strong even after the major market (sub-prime) hit everyone took in late January. Century was doing well, ready to get back up to $.55 and higher. Then, out of no where we find ourselves at $.20 due mainly to Wega's suppression (IMO). Thanks Wega! You weren't happy with $.55 but you're happy with $.20. Also, way to go with killing your own stock (in my view, that's what you have done).
Production05
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