50,000 options @ $.35 exercised price
Transaction/exercised date: Nov. 25`10
SEDAR Filed date: Nov. 29`10
Option expire date: Nov. 30`10
Of note, the exercise price was only about $.03 lower than the market price on the exercise date, yet he went ahead with exercising the options anyway. Additionally, throughout the years I have been an investor with Century Mining, I do not recall Mr. Sheridan purchasing any Century shares either via the exercise of options or via the open market. It`s not clear about the level of relevance of this transaction. Nonetheless, it is good to see Mr. Sheridan (a key Senior Officer and Director of the company) investing his own personal money in the company at this very important period / turning point in time.
17 comments:
This could go either way.
Either:
a) He excercised because he knows the price is going up/potentially to demonstrate to the market mgmt's belief in the future;
or,
b) He knows the shareprice is likely to take an even larger hit and is taking what little profits he can.
Which is the truth?
Or
He's exercising before the options expire and becomes worthless?
I will take option C. expiration and worthless. Although,,,,,,,,, the closing of the 2 PP's could generate a nice little Xmas present for Sheridan.
GL
Talked to Peter this morning, confirmed both PPs are closed. Any selling now under 40 cents should dry up IMO.
I asked Peter if we were still getting our 1000t/d and he said we are, anywhere from 900-1300 t/d. Thinking back to August/September, Peter was much less willing to talk about t/d. His confidence in the tone when discussing mill rate was nice to hear.
Isn't Sheridan a Peggy Kent crony and one of the original "Yes Men" on the BOD of CMM?
I see he is on the BOD of Tamerlane and he was on the BOD of the Bankrupted Royal Oak venture.
Don't we need to shed ALL of these Peggy loyalists before the market takes CMM seriously?
Good to hear Glorieux.
Did you get the sense it was more skewed towards 900 tpd or more towards 1300 tpd?
When are they going to announce the closing?
I would only be guessing about him indicating more 900 or 1300 to be honest. What I got is we have solid production coming thru the flats and now BD with 3 scoop trams contributing. I really think the delays in equipment hurt us and now that the equipment is in, the production is happening. TD keeps refilling the ask at 39. When they are filled, we should move up. Instinet still has an iceberg bid at .385, man have they bought a whack of shares lately!
Since October 15th, instinet has bought 1.264M shares. Seems they are pretty sure CMM can turn the corner!
Yeah there's a big chunk of shares at .39 that need to go.
Once that happens it will pop up to mid-40's.
Yeah there's a big chunk of shares at .39 that need to go.
Once that happens it will pop up to mid-40's.
Officially announce the closing of the PP's and that should get it started. GL.
Glory .. any word from Peter about giving an formal update on production numbers ? or ore grade.
Mike,
Last time I spoke with Peter he said he was preparing a formal update for mid-December.
Shareholders need to keep PB's feet to the fire and insure that report gets out by Mid-December.
agree, will email PB to urge/remind him to issue this NR
Cheers
PB's prompt reply--"1000 tpd still and similar grades...aiming for mid Dec update"
Similar grades meaning 2.7 or 3.5+?
Have no idea. Did not ask. Perhaps we just wait for the mid Dec update.
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