AUG-09-2012: SPROTT SELLS 7.434M CGX SHARES As of July 31, 2012 - it looks like Sprott unloaded at total of 7,434,021 CGX shares through some sort of 'private transaction' with an unknown third party. Sprott will now own 36,049,546 CGX shares - approximately 8.8% of the issued and outstanding common shares of CGX.
Hmmm... I wonder who the buyer is....and what the paid for each share....
Don't believe Sprott would have sold unless this 'private third party' was willing to offer them a special premium over the current CGX share price. Of course there is always the other side of the coin - Sprott trying to claw their way out of CGX. I believe that a scenario where Sprott is trying to claw their way out is doubtful - especially in light of the recent comments from the 'experts' (i.e. Repsol, Tullow, Pacific Rubiales).
I tend to believe we are going to see more of this type of activity down the road - major blocks of CGX shares around moving via private transactions. Make no mistake - the best way for an 'interested third party' to gain a piece of the 'South American Transform Margin' is to start accumulating shares of CGX.
I leave everyone with this thought - recall what Total was willing to offer Wessex exploration for their 1.25% stake in offshore French Guiana (on the heels of the Zaedyus discovery)...over $110M! That deal is worth more than the entire value of CGX right now!