RE:RE:RE:RE:RE:Mgw There is a lot of misinformation here. Firstly, according to SEDI, Raymond has not been selling his shares. He did exercise his options earlier this year, 200k shares @ $0.15.
Insider activity has been fairly quiet in 2018. One of their directors, Ali Najibullah had done very well. He sold at 1.90 a whopping 483k shares. He did buy 40k shares on the open market, shortly after at $1.4X, but in all that's a great return. Also, Ben Moline, sold about 200k shares, 1/2 in the $1.0X range and the other 1/2 between $1.60-$1.90's.
When you speak with them, they are very optimistic, but what would you expect? By spreading unofficial bad news, would be detrimental and dangerous for them. The frustration is that we are told that they are building, working on financing, and the announcements would be imminent, but the timeline elapses and nothing.
Obviously, management is upset by the erosion in value. The reason for going quiet is really because they have been inundated with calls from very unhappy people. I feel especially bad for those who supported them in the last private placement. Talk about biting the hand that feeds you, and stabbing them in the back. Judging by the certification documents, some appear to be referred to by advisors who earned a commission. I imagine the explanation of how your 6 month investment had gone from $0.60 to $0.13.
This is also a bad time for MGW to be trading at these 52 week lows. With seasonal tax loss selling in full swing, the added selling pressure coupled with no news or corporate updates results in what feels like a share price death spiral with no bottom in sight. If management decides to sign off for the remainder of 2018, going down to single digits is unfortunately realistic. Either way, management's behaviour is inexcusable.