Re: from IKN - loads of insider selling versus James West's call
in response to
by
posted on
Dec 18, 2010 06:03PM
Mazatlan, Mexico - Dryden, n/w Ontario - Fire project, ROF McFauld’s Lake On
But management won't ever get the opportunity to buy back these shares at a cheaper price, will they? According to West, everyone's supposed to buy aggressively to $1, and then sell half at $5!
Why would management be dumping shares into the market when their recently-hired promoter is telling people to buy everything up to $1, and then sell half at $5?
Management shouldn't be penny-flipping like a bunch of day-traders, should they?
Where do they expect the price to go from here? I mean, I wouldn't be selling those shares at 50 cents! Not with The Next Ventana right under our feet! Not unless there really is no Next Ventana, and I'll be able to buy them back in a couple months for .20. Oh, wait....
Yes, the whole $15M really is coming from retail dummies who don't know any better than to subscribe to West's newsletter. What happened was, SFF needed financing, but at 20 cents it would dilute them like crazy. So, they re-drilled the deposit that BTO had already defined, and timed the release of that one meaningless hole with an earnest promotion from new hire James West.
They hired West because they know that he knows neither how to build a mine, nor how to read drill intervals, nor how to read a drill map, nor how to read previous 43-101s. He also has a readership that apparently doesn't know how to build a mine, read drill intervals, read a drill map, or read previous 43-101s.
So, now the stock's been pumped to the .70s... er, the .60s... er, I mean the .50s, and now they can run a financing that only gives away 40% of the shares that it would have at the .20s. Pretty smart, actually.
It's actually even a form of justice too, if they can make James West one of the bagholders. You know, reap what ye sow, that sort of thing.
Come off it Mtl_gold! Everyone else was only in this for a short-term flip play! Even Glorieux came out and said so! Are you seriously insisting that you're a long-term investor in SFF?
So anyway, tell me about these various "loopholes" and "nonsense" that you're accusing me & IKN of spreading. Because all I'm seeing from you is the same blinkered cultic slavish devotion to a stock that already did its 250% pop and is now tending back towards .23.
If you managed to pick up your SFF at .23 with the other frontrunners on November 24th, you should have sold by now and booked your well-earned profits. Everyone else did.