RE:RE:RE:New Press Release - A. Alshinbayev Announces Acquisition of Common Shares of Arrow Exploration Corp.Rob0012 wrote: DEET
You asked: "How did he manage to buy shares on the open market (TSX) for .317 a share? In US dollars maybe but not in CDN?",
Well, many events took place over the recent days...
The sale from Canacol took place on April 26th, as per Canacol NR from April 29th:
"On April 26, 2024, Canacol sold its entire holdings in Arrow Exploration Corp. of 60,072,807 shares for gross proceeds of approximately US $13.8 million, via the AIM market of the London Stock Exchange."
On April 26th. on the AIM listing, a one trade transaction took place for 48 millions shares at 18.5 pences, the equivalence of 0.317$Cdn. That day, 123 million shares were traded in total!!!??
BUT a NR from Hong-Kong (!!) confuses furthermore! On May 8th,
HONG KONG, May 8, 2024 /CNW/ - A. Alshinbayev reports the acquisition of common shares of Arrow Exploration Corp. ("Arrow") (TSXV: AXL) (AIM: AXL). On May 3, 2024, Mr. Alshinbayev purchased 48,046,402 Common Shares in an open market purchase on the TSX at a price of .317 per Common Shares (£0.185),
On the TSX? no way!!! On May 3rd? No way!!!
Canacol says that they sold 60M shares on April 26th. A one trade at 18.5 is traceable and was made by "A.A". By or for? Maybe someone bought it for A.A. and had to be officially reported through the TSX due to AXL head office being in Canada...? Confusion surround the differemt dates must be related tp legal considerations.
About the difference from tghe 48 from AA and 12 more reported by Canacol... Again, my guess is that someone bouth them all and is selling some back at profit and not having to declare himself as an AXL shareholder with less than 10% of the OS. Explaining the funny very regular 100K tradeds that took place yesterday PM on the VSE.
ALL very good IMO!!! Our SP is up on AIM today...buddies well for the next leg up!
Rob
So, I wonder why Canacol sold their entire investment in Arrow on April 24th. That's a lot of shares dumped at once and would explain why we are now sitting in the mid 30-cent range. Is Canacol having financial trouble?