Scottie Resources Corp. V.SCOT

Mumford blows out his shares

[UGMineEngineer]

Exercised his 1,000,000 options which were set to expire in December anyways. But then turns right around and blows 900k of the shares into the market. Yikes!

[roberto146]

Didn't hurt much, they were gobbled up in 2 days, so that's good.

[UGMineEngineer]

That's good? Isn't it a bit worrying when the head of exploration sells 90% of their shares in an exploration company?

[roberto146]

Sometimes people want to use money for something. Anyway, he still has almost 4 million options mostly in- the-money even after excercising the million expiring in 5 months. What's good is that the shares were taken up apparently without affecting the share price when SCOT's normal daily volume is a small fraction of the 900K offered. Anyway, they've just started drilling again