Insider OwnershipRed...don't forget that John Rickus bought 1 million shares of the PP. Sam, John, Duchintav with over 35 million, Origo Partners with 78 million and Soros Funds and Quantum Partners with 25 million each. Sure we have 307 million outstanding but just a little research reveals that about 60% of those shares are held by insiders.
Kincora trades at these levels for two reasons only:
1) Like most Jr exploration companies they got taken out behind the shed in the last 2 years.
2) The government of Mongolia has acted in a way that discouraged foreign investment in the last couple of years. We are beginning to see them change their direction to now encourage foreign investment.
These two factors combined influenced the share price of Kincora to drop all the way down to 2 cents earlier this year.
Sam could have done a rollback and financed at higher prices but felt that a rollback would have been detrimental to shareholders. As a result we experienced more dilution but Sam is so very confident in what he has at Bronze Fox it seemed the most prudent way to go.
I still believe that anyone able to buy shares under 10 cents will look back a few months from now and shake their head that the price was so low.
No pump. Just facts with a little opinion thrown in regarding future price.
Chip