Post by
arh0070 on Aug 15, 2020 11:56am
GZZ/Eric Sprott
There was an error on the sedar report ,they forgot to account for the reverse split .Mr Sprott owns 1.5% of GZZ ,which is good news since he must believe in the prospects for GZZ as do I .GZZ is a relatively closely held company and it would be extremely difficult to acquire such a large percentage (15%)of the company unless Jimmy Lee or multiple insiders sold which has not happened .I have recently been buying more GZZ post reverse split since I am hoping over time the same thing happens to GZZ as has happened to RZZ .With more revenue/dividends accruing to GZZ as RZZ gets more royalty payments from Malartic I imagine they will buyback shares .With the massive rise in the POG once the effects of the covid virus are gone (2nd quarter) RZZ should have a significant rise in profits and thus more buybacks and dividends .Same strategy with GZZ I would think with hopefully the same results.The equite value of RZZ equite portfolio(Yamana and Agnico)should have risen also .
Comment by
argaiv on Aug 15, 2020 9:01pm
If Eric Sprott owned 15% before the inverse split, then he still holds the same percentage of shares after the split. He holds less shares, but his percentage is still the same. His percentage will only decrease if they amke an equity offering and he does not participate in that offering.