RE:RE:RE:RE:RE:RE:RE:ICG sells nearly half of it's Eastmain shares Who could see this coming, the sale of 7,000,000 Eastmain Resources shares for $5.25 million ?
Now the question “WHY” what are they going to do with this money ?
I just want to throw this out there because I haven’t seen it mention.
When Integra originally made the "Strategic Investment" in Eastman this money was deemed surplus cash from next years budget. So I am just putting this out there,, Integra is going to take a page out of Alexandria Minerals book and use the money to support Integra’s share price !
It’s all a psych game,, if the market sees the company is willing to support the share price by buying back shares for cancellation, now that gives you confidence !
I have always wondered why Integra’s management felt Eastman was a better investment then Integra ?
Just put Integra’s name in where you see Alexandria Minerals.
“We believe that Alexandria’s shares have been trading in a price range which does not adequately reflect their value in relation to our asset position and future business prospects.”
It worked for them, the shares were trading @ .025 when this support started.
M2
PS; Only putting this out there, but don’t rate this very high.
PPS; Buy backs could scare the s$it out of the short sellers !
ALEXANDRIA MINERALS ANNOUNCES TSX VENTURE APPROVAL OF NORMAL COURSE ISSUER BID
05 Feb 2016
TORONTO, ONTARIO–(Feb. 5, 2016) – Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(OTC PINK:ALXDF)
(“Alexandria” or the “Company”) announces that it has received approval from the TSX Venture Exchange (the “Exchange”) for the Company’s intention to make a normal course issuer bid (the “Issuer Bid”). Under the terms of the Issuer Bid, the Company may acquire or repurchase for cancellation up to 13,404,967 issued common shares of the Company (the “Common Shares”) representing approximately 5% of the Company’s issued and outstanding common shares and approximately 5.05% of the Company’s estimated Public Float.
Eric Owens, the Company’s President and CEO, stated, “We believe that Alexandria’s shares have been trading in a price range which does not adequately reflect their value in relation to our asset position and future business prospects. Given our successes and growth rate of gold resources over the past few years, Alexandria represents an attractive investment.”
At the option of the Company, the purchase for cancellation of its shares commence on February 11, 2016, and end on February 10, 2017, or such earlier time as the Issuer Bid is completed or terminated at the option of the Company. Such purchases will be made by Integral Wealth Securities Limited on behalf of Alexandria in open market transactions on the TSX-V or other recognized marketplaces at the prevailing market price.