RE: I found some cash to buy moreWell, like you, I am a buyer again at $2.22, at my cost basis. Will buy 10K shares every dime it drops from here.
This selling is aggressive and probably reflects remnants of the 3.9MM of the 11.4MM shares GSS rec'd as a "secured creditor" a few weeks ago. I wonder who the previous owner was? RAB Capital? And who picked up the 8MM shares they sold within a week? Seems to me we are missing some filings unless it is a entirely new buyer sneaking in under the 10% reporting threshold.
2008-04-17 14:17 PT - News Release
Ms. Lauren LoFaro of Global Securities reports
EARLY WARNING REPORT AND PRESS RELEASE - REPORT PURSUANT TO NATIONAL INSTRUMENT 62-103
On April 7, 2008, Global Securities Services(GSS) acquired beneficial ownership andcontrol of 11,370,075 ordinary shares of Moly Mines Ltd., representing in total approximately 13.2 per cent of theissued and outstanding ordinary shares of the company. GSSacquired title to the ordinary shares as a secured creditor under atransfer of title financial collateral arrangement under English law.
Immediately after the transaction GSS owned and controlled11,751,613 ordinary shares, representing in total approximately 13.7per cent of the issued and outstanding ordinary shares of the company.As of April 16, 2008, GSS's beneficial ownership in the company was3,871,395 representing approximately 4.5 per cent of the issued andoutstanding ordinary shares of the company.
GSS may purchase or sell securities of thecompany in the future on the open market or in private transactions,depending on market conditions and other factors material to its investment decisions.