Golden Band Resources Inc GBRIF

RE: RE: RE: It looks good but?

[stokpiker]

Not true. Insider sells can be first seen through the TSX. Mgmt have time to officially release w/sedi.
My opinion. We will see these sells on sedi at sometime. Probably the latest possible time required to file as they don't want to scare off any future investors.

katfish,

actually you are wrong about insider sells showing up first on the TSX, the TSX is not reporting insider selling they are reporting selling that a broker has marked as insider selling, the broker gets the information from the brokerage account where the account holder can list any companies where they have a significant or insider interest, no one checks or verifies the accuracy or the reasons

so the TXS is reporting transactions that do not actually qualify as insider transactions and they may never show up on the real insider reports from SEDI

you may have noticed that these TSX insider trades have been reported for GBN since last spring, it is well past the deadline for official insider sales to be reported on SEDI and yet they havent been reported, in fact the opposite has happened, mgmt/directors have continued to buy shares from Jan thru to Sept (and Im sure theyre still buying)

what you are seeing on TSX is institutional selling where the institution has listed GBN as a significant holding and the broker is reporting them as insider transactions

the TSX reporting is EXTREMELY misleading and unreliable becuase it doesnt list who the buyers/sellers are and the transactions reported on TSX never have to be verified with proper filings by actual shareholders

GBN is one of the best examples Ive ever seen for true insider buying by mgmt/directors and yet TSX is reporting what are probably sales by an uninformed unhappy institution, who knows why an institution would choose to sell at this time, maybe theyre doing a poor job and are getting alot of cash calls?? but these sellers are not insiders despite the info coming from TSX for the last 6 months

if the TSX wants their early insider reporting to be accurate and useful to investors they need to attach a name to the transactions so the 'early' warning can be verified as accurate once the SEDI reports are filed