RE: Where is all this stock coming from? Traders buy then sell, buy then sell, buy then sell, over and over and over on any given day. There is no way of knowing from our perspective how many shares are bought and held, but my personal rule of thumb is that it is only between one-third and one-half of the volume.
As far as this stock, imo, it is to the lower end of my scale, probably lower. Because, GTA owns exactly zero interest in the Northshore property at this point in time. Because, as far as their earn-in goes, they have only given BAR 1 million shares so far (which I hope BAR has sold) out of the initial earn-in requirement of 2.5 million shares, and spent a few hundred thousand on exploration out of the requirement of $2.5 million, and they very little operating/exploration capital left at this point in time, so GTA will have to do a pp, and imo that will most certainly be at much less than $1.
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2011-10-17 16:11 ET - Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement dated July 24, 2011, between Balmoral Resources Ltd. and GTA Resources and Mining Inc. Pursuant to the agreement, GTA shall have the option to acquire up to a 70-per-cent interest in the Northshore property. The agreement will constitute a non-arm's-length transaction as Darin Wagner was a common director.
To earn a 51-per-cent interest, GTA must pay Balmoral $50,000, issue 2.5 million shares and incur a minimum of $2.5-million in exploration expenditures on the property over a three-year period.
To earn an additional 19-per-cent interest, GTA must pay Balmoral an additional $100,000, issue one million shares and incur $3-million over an additional two years.
GLTA