RE: Eldorado chairman sells sharesFolks sell for a variety of reasons, buying a cottage, weath/estate planning etc. Just imagine the optics if the Turkish court ruled in favour of the "un named environmental group", to be sure this transaction was blessed by the board. Besides don't read too much into share selling at this point. Looks like ELD has significant upside, gold mines producing, deal with BHP, I believe ELD will only get stronger. Buy on the dips, gold might see below $900.00 and that would be a good time to buy. Summer is a short time away and ELD might drift as gold may lose interest, only to catch fire in August time frame.
FYI Mr Pitcher (as per the ELD Management Information Circular) has 550,000 exercisable options and 200,000 unexercisable. Plus 225,000 shares with an exercise price of 7.12 as at December 31, 2007
Also looks like the management group have built in nice golden parachutes, ..."all options become fully vested in the event of a change of control." So, management won't put up too much of a fuss when/if ELD is taken out!
Cheers!
CJ