Signal Gold Inc. T.SGNL

Jonathan Fitzgerald Transactions In The Last 5 Months

[DoumDiDoum]

According to the last filing available on Sedar, Jonathan Fitzgerald earned $66K in salary (cash and shares) in 2020 for organizing/participating in 7 board meeting.

 

According to his LinkedIn profile, he is also director of Novamera Inc.  He represents ANX on the board of this company since the spinout of the narrow vain mining technology project.  Novamera is a private company so I'm not able to find any public information about his compensation there.

 

His LinkedIn profile also mentions he his the CEO (and Co-Founder) of Stope Capital Advisors Inc. (Private Company), Samepage (small company based in Seattle), Lehua Brands (small company specializing in Marijuanan beverages based in USA).

 

So I do not know if M. Fitzgerald is getting salaries or compensations for his participation to these companies but I'm guessing he is not working for them for free.

 

The last transactions he has done since December are the following:

 

November 2021

- sold 128K shares from 75 cents down to 72 cents for $93K

- exercized 239K of 23.5 cents options for cost of $56K

- positive balance of $37K and 111K shares

 

December 2021

- sold 237K shares from 70 cents down to 63 cents for $161K

- exercized 186K of 24 cents options for cost of $45K

- positive balance $116K

- negative balance of 51K shares

 

February 2022

- sold 96K shares from 80 cents up to 87 cents for $80K

- exercized 125K of 24 cents options for cost of $30K

- positive balance of $50K and 29K shares

 

Mars 2022

- sold 125K shares at 71 cents for $89K

- positive balance in his pocket: $89K

- nagative balance of 125K shares

 

So after all these transactions, as of now, Mr Fitzgerald has a positive ca$h balance of $292K and a negative share balance of 36K shares.  Clearly, he took profit from the table and has decreased his share count.  And if his filing on SEDI is correct, he still has about 200K 24 cents option expiring in June.  If he exercized them, he needs about $50K leaving him with over $240K of positive ca$h balance and will have 75K shares less than last year.

 

What "signal" (clearly playing on words here) this sends with a chairman selling on the public markets while your executive team is trying to build some momentum and trying to develop a world class deposit?  Mr. Fitzgerald is supposed to bring with him some financial expertise in M&A.  He helped with Orex merge, thanks for that, but is he still the right person to lead the board for what is to come and the next stage for us?  Is he the right person to pilote "Signal Gold" while he is clearly sending a different signal publicly by selling his shares?

 

I'm planning to withold all my shares at the AGM in May to send to the other boad members a "signal" that we might need some changes. We are on a discussion bullboard so I would like to know what others think or put me "in my place" is my DD is not accurate.

 

[GoldNHill]

Thanks for the info DDD...tis a bit concerning for sure that the Chairman is dumping as opposed to accumulating with the rosey picture of Goldboro on the horizon. Might he be unhappy and looking to move on?  Maybe being asked to move on thus taking what cash he can before being dismissed...who knows? Bottom line Kevin and Rob indicated they buy when they can promoting a good rosey picture

[DoumDiDoum]

We will receive our proxy in the coming weeks so we will be set regarding his position.

[iq4u]

Thank you very much DDD, it is a kind of dissapointing that JFZG is selling so much shares when we are accumulating them! It would have been a fantastic SIGNALK if he would have taken some more shares from the market with his free cash flow but who knows which bills he had to pay? I do not know and maybe he was young and needed the money. BUT, maybe I can thank him that I could buy some more

[DoumDiDoum]

Getting shares from his hand and put them in your stronger hands... it's great that you are supporting the share price, I might as well, but I'd rather see the chairman of the board backing shareholders then "feeding" them.  Anyway, I will not back him up for sure at the AGA.

[Benji 2000]

Same to me DDD and i hope we are not alone...

[GrumpyInvestor]

Hi DDD,  Seeing JF exercizing options and selling shares in the last five months, I'm wondering if he might be on the way out from the board of directors. We added a couple of good people in the last year, and his presence is probably less and less usefull.  And as you listed yourself, he has quite a list of other interests that might require his time and/or money. Anyway, I

[DoumDiDoum]

I'm positive when I see good things happening with this jewel company but I can also be critical when I think things could improve.  That's the little power we can have as shareholders: voting with our shares.  Send messages.   But I give you that: I was a bit re :-)

[DoumDiDoum]

I meant, "I was a bit repetitive about killing the momentum."