RE:RE:RE:i start a new share positionthe company did not buy the insider shares. it is clearly listed in insider trading. they exercised their options and sold at a time when the gold price was near the recent peak and gcm was high. when there is euphoria of high gold price, there are plenty of buyers. in hindsight they took profits at a good time.
the company did buy some tens of thousand warrants and cancelled them when the share price was around cdn$4.00 and did not continue buying when the share price rose.
Wayned52 wrote: Tony , as you may know I am one of GCM biggest fans but like ALL mining companies shareholders should never trust them fully . I don`t think when the company announced a normal course issuer bid , that they ever intended to buy shares back in the name of the company for cancellation . What the plan was and probably still is , is to buy back large blocks of insiders cashed in options . Look at the trading action in Aug and Sept when we were at the highest prices we have been . On one occasion for example , I think at the highest price we got to Mike Davies CFO sold a large block at $5.75 . Instantly the whole block was gone , all of them at the same price . This also happened again a number of times with Davies , Martinez and others . All through late summer at the highest prices making the shares tank for the session . Always the same pattern . In what other situation do you see blocks of shares that are higher then the daily average volume being ALL instantly snapped up at the ask price . There just have never been that many buyers here and some days even a small number of shares can tank the price . So when I talked to the company at that time they said all company insiders have the right to sell their options . They Do . But not in a prearranged sceme like this was . So when I posted about this on the board back then nobody even replied . That life as a mining investor . I don`t know what happens to the shares , if they get cancelled or the company hold them .