Lundin Gold Inc T.LUG

Now we know what happened...

[Pete1986]

Huge insider sell, Carmen sold 10 mio shares in the public market. I just wonder who it was possible to sell such a big position even though "official" valume was only about 1 million shares. 

Moreover the question is, why is Carmen selling. Does she see no further value? And who bought all those shares. It seems like the Lundins bought 900k shares, but who bought the rest of it? 

After Newcrest sold, Carmen is the second bigger insider who sold.

[SleepingGiant64]

My god, that's a gigantic insider sell but I'm not exactly sure how she did it because the volume isn't shown on the TSX. On the day she sold it shows just 1m shares moved total. Even a block trade should show up. It's listed at $12.26 and we still haven't gotten that low so I guess she unloaded it off market somehow. It also says it was in the CD Capital Natural Resources Fund

[Pete1986]

Yep, talked to some analyst and was told that CD Capital Natural Resources Fund II is closed. So she was more or less forced to sell. However, question is who the heck bought all of those shares.  And how bought all those shares from Newcrest, since they sold as well. 

[SleepingGiant64]

Yeah, makes sense. And you're right about the question of who is on the other side. Are they holding, or selling? I'd imagine the only reason you'd take on 10m shares is to hold them. This could turn out to be good news if it's someone notable. I think it's safe to say that Lorito took on some of them, as they bought 900K shares just one-cent below Daniele's price. As for

[Pete1986]

Most likely some funds bought those 9.7m shares. But again, who bought those 75m shares from Newcrest?

[Beabaggage]

NCM has NOT sold any shares, they actually bot shares in May to level their 32% ownership which is capped because of a stand still agreement they signed in 2028.  The shares bot in May were to offset dilution for shares granted to employees thru performance options.  I think we will get a great update in early 2023 on not only FDN but the other drillings going on.  The 10mil shares