Once was a pooper, now it's a trooper!!!On 2016-02-05, the company announced that Osisko had closed the $25-million royalty financing and the second tranche of the November 30, 2015, 32-million-share, 32-cent flow-through financing.
On that date, BGM opened at 28 cents and closed at 31.5 cents. Osisko (OR) opened at $15.75 and closed at $15.64.
Today, BGM touched 40 cents, up 8.5 cents (27 per cent) since Feb. 5. Osisko, not so robust, touched $13.89, and is presently at $13.69, down $1.95 (12.5 per cent) since Feb. 5.
Gold was $1,175 (U.S.) on Feb. 5. It's at $1,210 (U.S.) today, up $35 (U.S.), or up 2.98 per cent since Feb.5.
What has BGM got going for it when, during a period of market unrest and a yo-yoing gold price, it has jumped by 27 per cent and the share price of its largest institutional shareholder has dropped by 12.5 per cent (a total difference of 39.5 per cent)?
Maybe Osisko shareholders will be lightening up and flocking into BGM (follow the money!!!)?
Since Feb 5, 2016, 4,421,716 BGM shares have been traded. Four largest net buyers (774,000) are Paradigm (400,000), Haywood (152,500), Fidelity (134,500) and Anonymous (87,000).
During that same period, the four largest net sellers (1,030,433) are CIBC (528,930), National (215,900), RBC (196,618) and PI (88,985).