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Golden Band Resources Inc GBRIF

Golden Band Resources Inc. is a Canada-based gold producer engaged in exploration, mine development and extraction of gold ores from its properties in the La Ronge Gold Belt in northern Saskatchewan and processing at its Jolu mill. It has assembled a land package in excess of 870 square kilometers (km2) that includes thirteen known gold deposits and four former producing mines, which were Star Lake, Decade, Komis and Jolu. The Company is mining at three deposits to feed the mill. These are Roy Lloyd, Greywacke and Golden Heart. Roy Lloyd mine is an underground mine extracting ore from the Bingo deposit. Golden Heart is located approximately nine kilometers east of the Komis mine and is accessible through a 17-kilometer mine road connecting to Highway 102 just north of Brabant Lake.


GREY:GBRIF - Post by User

Bullboard Posts
Comment by stokpikeron Sep 29, 2010 12:42am
397 Views
Post# 17505048

RE: More Insider dumping! not good!

RE: More Insider dumping! not good!

certain shareholders are required to file all transactions with the exchange and they are reported on www.sedi.ca
as insider trading

insiders including directors and senior mgmt have to file

anyone owning over 10% of the outstanding shares has to file

if you check www.sedi you will see that no directors or management have been selling, they've only been buying for a long time, there has been no insider selling of GBN

there are other sites to get insider trading information including www.tmxmoney.com, this site does not get it's information from the filed insider reports, below is an explanation of where they get the daily insider trade info

Provides a security level, daily summary of insider buying and selling activities for the Toronto Stock Exchange and for the TSX Venture Exchange. This information is based on a trade related marker provided to TSX by brokers at the time a company insider either buys or sells a security.

brokers add a 'marker' to a trade when they consider it to be an insider trade, brokers get insider information from their clients when they open their accounts or when the clients update the broker as to their status as an insider, I could tell my broker I'm an insider of IBM and all my trades would be 'marked' as insider trades, this is a very loose and informal method of monitoring insider trades, some institutions will record themselves as insiders with their brokers if they hold large positions, if they have any financial activities with the company or just to be safe

officially you're only an insider if you're a director or a senior manager or you own more than 10% of the outstanding shares

Im guessing an institution with a large GBN holding (but less than 10% or they'd have to file on www.sedi) has been selling some shares and they happen to have registered with their broker as insiders of GBN for some reason

there is no true insider selling happening at GBN, to confirm that you only have to check out the official filings on www.sedi.ca

if you want to rely on the whim and non regulated marking of sales by brokers then youre not getting an accurate picture of insider trades, but it does get published faster than official sedi filed documents

the only selling by true insiders in 2010 was Rodney Orr in February when he stepped down as pres, he sold all his shares which was only 110,000

there has been massive buying by directors and management all year (particularly netoliztky)

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