RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Tiny but meaningful changes Lastly, let return to the Jeff question: Why Haywood has dumped >11M sharesin the last month?
Answer (If Peter Saladino is behind Haywood trades):
Saladino has acquired ownership of 30,769,777 common shares of GLH as part of the BMF deal. These shares were as payment of the US$12,000,000 (C$16,620,000) or ~ 54 Canadian cents each.
BMF deal
He has sold 15.5 M shares since 20 Dec 2019 for a total of $305,476. He could sell much earlier at significantly higher prices but did not. 300k is nothing for him. Why he is selling now?
Maybe he knows GLH is tight in cash and also to persue the lawsuit needs additional cash too. He predicts that soon or later GLH has to raise capital through equity probabely being also aware of the possible $4.6M IRS penalty. To apply pressure on GLH he fight back by dumping of his entire shares. This way he hopes to stop GLH. He resumed dumping of the remaining of his shares (so far 11.5 M) after the positive April 20 news release regarding financials of 2020 Q1.
However, he has only 2M more shares left. If the market absorbs the remaining of his shares and price increases then GLH has the chance of significant price recovery. The sooner this happens GLH can raise capital through issuing shares at higher prices which means less dilution when executed.
All in all, Peter Saladino has 2 more Million shares and may even short sell to stop GLH lawsuit. Selling CA $0.3 M worth of shares to prevent an almost CA $10 M lawsuit is a good deal for him. If retail investors fight him back then not only the price recovery is practical but also the lawsuit will help this stock to fly. Let cross the fingers.