Re: Cliff's Dumping KWG?
in response to
by
posted on
Dec 18, 2014 11:38AM
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
Goldhunter, the first amount of shares sold by FNC should be 2,380,000, and not '388,000'. The formatting/spacing isn't right in the post.
If you add the listed amounts, it comes to 10 million shares.
2,388,000 of KWG’s shares at a price of $0.04 per share, 1,952,000 at a price of $0.045 per share, 1,155,000 at a price of $0.05 per share,1,000,000 at a price of $0.055 per share and 520,000 at a price of $0.06 per share, for total proceeds of $327,310. The remaining 2,985,000 shares were subsequently disposed at $0.035 - $0.04 per share.
Yes, CLF's 100m sharers on the market would certainly drive the sp down. FNC's 10m did that, which might be part of the reason they were sold. FNC will get more KWG shares in settlement for the Joint Venture Bold claims if the price is low, and they can use the cash anyway.
There are many possible different combinations of CLF assets we might get by purchase or in settlement of litigation etc. None will happen unless we get cash or a backer, even litigation needs money to be any use.