Canaccord sold over 4 million shares today. IMO there is little doubt that this is Wega and Wega has been selling through Canaccord for the past month.
I think we were too focused on RBC, but Wega only used RBC and Byron to buy its CMM shares in the market. 13,483,146 shares were acquired in a private placement and these are the shares that Canaccord is probably selling (or shorting with the 13 million shares available to cover). When Scion sold 4 million shares in December, they were also sold by Canaccord.
In the past month Canaccord has sold 10,578,300 shares and RBC has sold 7,486,990 so hopefully Wega has almost spent all of its ammo. That's a lot of shares to be absorbed by the market.
Today's trades have been posted.
1 comment:
Thanks for posting the trades info Carib!
Wega has to run out of ammo fairly soon. It's possible that they might even be down to as little as 5M shares (if we assume that most of the Canaccord sales belong to them, which is likely the case) - they started with 25.6M.
If they are indeed down to 5M shares, or even if it's anywhere between 5 - 10M, we could be looking at a situation where they run out of ammo this week (depending on how aggressive they are for the balance of this week).
Actually, we should probably stop thinking of Wega Mining as being a major shareholder of Century Mining - 5M shares only equates to 3% of Century's ouststanding shares. There are likely at least 2 other institutions with more Century shares than Wega.
Post a Comment