RE: Form 4 filed by Marc - a GOOD oneIt truly is amazing what things people will make up when a stock is down!
The man has loaned a LOT of his personal money to the company at much higher prices ($1.00 when the stock was trading at $0.70 this fall, for instance), and put even more in in recent months as the credit crunch and a falling stock price made it very difficult for the company to raise money. The selling of a measly 400k shares out of his 17.5 million was simply used to pay bills, not as part of some grand scheme (what a doltish concept). I mean, give me a break! This is not private info, there are loans payable to insiders listed in the 10K.
It doesn't take a rocket scientist to see that the company owed him money upon his stepping down, and that he agreed to convert it into cash. Heck, you can call the company and ask, I'm sure that's what they'll tell you. Of course he could've demanded cash, even if it was to be deferred, but chose to put it back into the company at an obviously high degree of risk.
Sure, he's made some administrative mistakes. But he's built up a company with amazing assets and good people, and like hundreds of other juniors has had to deal with collapsing credit and capital markets and plummeting share prices. Plus, unlike many other companies, SDRG this past year had to deal with one particularly evil individual that has wreaked havoc on the company through a serious of despicable acts that make me want to puke. Fortunately, it looks like that scum's days of "influence" are over, and good riddance to one of the most unprofessional people I have ever come across.
I believe Marc stepping down, which would have happened inevitably anyway, is a very positive step for the company, and once the dust settles the market will realize that he has put together some of hte most exciting assets in the business. Seriously, the average junior (take a look at ECU.TO, a company with no "issues") is down 50% or so, and at some point interest will come back to the sector. By then, SDRG will be run by a mining CEO and investors will be marvaeling at Dadi, Cerro los Minitas, and the other great properties SDRG has in China.
At $0.22, this stock has already found its long awaited bottom, IMO.
yoyo