RE: another 55K shares were soldUm... do you have any idea just how many shares in all are controlled by insiders?
If you did, you would realize just how insignificant 88,600 shares are. (It's around 0.5% of the total insider shares) Your assumption of the President taking his skin out of the game is QUITE an assumption. If you want to trade on such assumptions, then be my guest.
Brooke's 2009 salary is reported on Bloomberg to be in the $130,000 handle. Certainly, the opportunity to supplement that salary for whatever his needs are by selling some shares would be attractive.
The only news that would cause this stock to trade in the pennies again would be a complete wash of any and all potential from this year's drilling season. By that, I mean: NO new kimberlites showing potential, and CH-6 and 7 bulk samples showing lower grades than the smaller samples from 2009.
I might remind those of you who think that insiders have faith in the company of the private placement that took place in April, in which insiders bought 2 million shares at 30% above market.
Peregrine Diamonds Limited Announces $6 Million Private Placement
Monday, 19 Apr 2010 08:30am EDT
Peregrine Diamonds Limited announced a brokered private placement of 2,000,000 common shares at a price of $3.00 per share for net proceeds of $6 million. All of the common shares under the private placement will be sold on a flow through basis. All of the common shares under the private placement will be sold on a "flow-through" basis pursuant to the Income Tax Act (Canada) and purchased by an institutional investor that is an insider of the Company. Proceeds from the private placement will be used for the Company's mineral exploration projects in Canada.