Timmins & Beardmore - Northern Ontario

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Clint:

Who is selling?... this is a good question. It is kind of discouraging that 1 house could buy 707k in one day (i.e. 70% of shres traded yesterday) and share price opens lower, only reaching a high of plus 1 cent, and ends the day up a half a cent. Go figure?!? Yesterday though there did not appear to be any house on the relatively large sell side... retailers made up top 5 sellers yesterday with only 1 selling +200k... and that was TD who have been up and down here like a dog's stomach. :D See house positions for yesterday below.

On the positive side... we have not seen such a single large buyer of SGX for quite some time so this is good. You must admit 1 house buying 707k shares for a total of $157,000 on the public market and selling 0 is not something to laugh at. If you include 125k yesterday, GMPs 2 day total is 832k totalling ~$183,000. This is a significant investment. Question is why? I have no idea but I hope we find out soon.

Also, I think it is important to consider GMPs history... as I posted yesterday since Jan 2005, GMP has been a significant net buyer and other than 125k in June 2007 they have sold 0. See below for GMP history. Since March 2008 GMP has been a significant net buyer, accumulating a net position of well over 1 million shares at 22-30 cents. Again, nothing to ignore IMO.

Question for today is... are they done? or will buying continue? I hope buying continues :D.

red911

House positions for V: SGX for 5/14/2008:

House Bought $Value Sold $Value
74 GMP 707,500 157,352 0
1 Anonymous 90,000 19,350 55,000 12,100
62 Haywood 20,000 4,400 0
81 HSBC 3,000 675 0
85 Scotia 3,000 675 0
36 Latimer 0 3,607 811
9 BMO Nesbitt 20,307 4,661 42,500 9,450
89 Raymond James 0 30,000 6,750
83 Research Cap 0 50,000 11,000
37 MacDougall 0 60,000 13,499
80 National Bank 65,000 14,300 155,700 34,475
79 CIBC 0 108,500 23,905
2 RBC 47,500 10,307 159,000 35,570
88 E-TRADE 10,500 2,302 133,500 30,069
7 TD Sec 35,000 7,235 204,000 43,628
Total 1,001,807 221,257 1,001,807 221,257

Here is the position of broker 74 (GMP) for V:SGX for 1/2/2005 to 5/14/2008:

Date Bought Ave Sold Ave Day Net
2007-06-06 0 125,500 0.10 -125,500
2007-07-13 200,000 0.19 0 200,000
2007-10-22 50,000 0.52 50,000 0.59
2008-03-04 200,000 0.30 0 200,000
2008-03-20 125,000 0.23 0 125,000
2008-05-13 125,000 0.21 0 125,000
2008-05-14 707,500 0.22 0 707,500
Total 1,407,500 175,500 +1,232,000
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