GREY:GPLDF - Post by User
Comment by
Goldmetalon Sep 20, 2011 2:47am
404 Views
Post# 19060205
RE: Thank you Archer
RE: Thank you ArcherI recieved this e-mail from Dudley Baker at
www.preciousmetalswarrents.com
Insider Selling on Great Panther(Not to Worry)
One of the benefits for subscribers is our constant monitoring of insider activity. We are always looking for new opportunities in which we would issue a BUY ALERT but we also are monitoring all insider activity on all of the companies that we own or which have warrants trading on companies in our warrant database.
One of our favorite companies for several years has beenGreat Panther Silver,
TSX:GPR and NYSE: GPL
Recently we noticed that Robert Archer, President and CEO has been selling some of his shares and of course this waved a caution flag for us.
Now insider selling does not always warrant a major concern as insiders, like all of us, have a need to sell and raise some monies for personal reasons.
In this case, I know Robert Archer and so I shot him an email Friday evening and he immediately replied and assured me that his selling was for personal reasons and not a negative reflection on his views of Great Panther.
Robert Archer gave me his permission to share his comments so here are Robert's comments in two separate emails:
HiDudley,
Good to hear from you. Your response below was absolutely correct and I have nothing to hide. My wife and I are buying some real estate and I need the cash now to close the deal. It's that simple. No reflection on the company or the markets & this is only about 20% of my holdings. It is the first time since I co-founded the company in 2004 that I have sold any of my core position and I make no apologies for doing so now. Feel free to pass this along.
See you on the circuit!
Best regards,
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HiDudley,
I get really tired of people complaining about insiders selling their shares, particularly if and when the latter are the very folk who found and grow these companies. With our share price performance over the past year, I have had many people thank me for the new homes they have built, cars they have bought and for funding their kids university education. Yet somehow, there is a perception that insiders are not allowed to partake in this benefit.
Everybody wants insiders to support the stock when it is under pressure but they are not allowed to sell when it goes up. So what is the point of owning any stock at all if we can't sell it? Not a particularly good investment strategy!!
Nine years ago, I started the private company that became Great Panther with my own humble savings and, with the help of some dedicated and talented individuals, we have grown it into the success it is today. Many of us went without salary in 2008-09 and put our own money into a financing at that time to help the company survive. Weare the ones who created the value that everyone else is happy to profit from now, so why is it such a crime for us to reap similar benefits?
As pointed out in my previous email, I have increased & not sold any of my core position in more than seven years and make no apologies for selling a portion of it now.
As I do not partake in blogs or bulletin boards, I give you free reign to reproduce this email if you see fit.
Regards
Bob Archer
President & CEO
Great Panther Silver Limited
2100 - 1177 West Hastings
Vancouver, BC V6E 2K3
(604) 608-1766
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Disclosure:
We are 100% behind Robert Archer and his team at Great Panther Silver. Some of our personal position was acquired around C
.50 and some as low at C
.20 in 2008 and we continue to hold our shares as part of our Core Holdings.