RE:RE:Could someone please explainStockwatch:
Chris Anderson and Patrick Forseille's Ximen Mining Corp. (XIM) dropped 10 cents to 61 cents on 136,000 shares. Ximen has been one of the most active juniors this year, climbing to a high of $1.35 in May, up from 30 cents in January. The entire time, Mr. Anderson was busy in the market, buying -- not selling -- 160,000 shares at prices ranging from 30 cents to $1.15. He now owns 935,000 shares. There are only 13 million outstanding, thanks to two steep rollbacks, 1:5 in 2013, and 1:12 in 2012. Ximen spent the beginning of this year talking up how close it was to reaching production. It just had to acquire the Treasure Mountain silver mine, near Merrit, B.C., from its bankrupt owner, Huldra Silver Inc. (HDA: $0.05). The parties entered due diligence in March, and said they were still at it in early May, but there have been no updates since. Now, Treasure Mountain appears to be headed elsewhere. Concept Capital Management Ltd. has stepped in, agreeing to help Huldra settle its $25-million in debts to creditor Waterton Global. This leaves Ximen with its two nuggetty gold properties in B.C., neither of which is close to production. There is Gold Drop, near Greenwood, where the company spotted some visible gold this week, and there is Brett, near Vernon, where Ximen spotted some even-less-interesting "structural trends" last week. As it stands, neither of these properties seems likely to support Ximen's still-61-cent stock. A new story would be most helpful.