Murgor institutional shareholders (reminder)Hey Easycoder,
In my opinion, one aspect of running the business that Eric and team have been poor at is achieving and sustaining a reasonable share price, even before the recent resource downturn. Eric and team are good at the exploration side, including identification of good exploration assets with good upside potential, but they seem to be poor at getting the market (in general) to buy into the story.
It is especially unfortunate that they have had no viable solution to the hijacking of Alexandria`s share price by the sellers for most of 2015. It would only take $140K to buy up the next 3.5 million shares on the ASK (say an avg price to $.04). Management needs to do a better job at selling the Alexandria story. Good management needs to be able to find such a small buyer (to take down these shares), even in difficult times, especially for such an asset wealthy company like Alexandria Minerals. There is no way Alexandria`s share price should have been allowed to be hijacked for this long.
Anyway, I had done some online research on Murgor insiders in the past, and previously posted it on June 3, 2015. There have been a lot of selling for most of 2015. Perhaps we have now reached the stage where 3 or 4 million shares remain to be sold. Let`s hope so.
As mentioned in the past, a few Murgor directors received Alexandria shares post acquisition (were insiders of Murgor, but not insiders of Alexandria post acquisition). The former Murgor insiders directors may have been unloading Alexandria shares throughout 2015, as they are no longer involved with Alexandria.
Alexandria already repurchased (via private transaction) the 8 million Victoria Gold Mines East Timmins shares. This private company represented Murgor`s largest shareholders.
Goodwin and Sprott clients likely didn`t have their full compliment of shares at merger time, but impossible to know for sure. Sino Minerals was also a large share holder.
The 4 large Murgor institutional shareholders were: 1) Victoria, 2) Goodwin, 2) Sprott, and Sino (and associates).
Partial details of my June 3rd post:
``Victoria Gold Mines East Timmins Ltd - this entity appears to have been the largest insider sharholder of Murgor. This is a private company. It owns 60% of the Golden Arrow property near Timmins (Alexandria owns the other 40%).``
``The other large Murgor shareholder I see on SEDI is a Murgor Director (former now), Nick Zeng. His individual holding after acquisition should be around 1,225,000 Alexandria shares (2,450,000 Murgor / .5). However, he also controls a private company called Sino Minerals Corp., which should have gotten 4,027,500 Alexandria shares (8,055,000 Murgor / .5).
Those are the only 2 large sharesholders / entities with Murgor SEDI filings. However, I also checked SEDAR.
Mutual Funds are required to file on SEDAR instead of SEDI. The SEDAR filings are usually posted as ``Alternative monthly report``. A filing is required when a transaction occurs. No filing is done in months with no transactions.
I found filings on SEDAR for Goodwin Investment Counsel Inc. (last filed date is August 16, 2012). and Sprott Asset Management LP (last filed date is April 5, 2012). They represent clients.
On the last filed date in 2012, Goodwin held 8.83% of Murgor (undiluted) and 9.51% (partially diluted) and Sprott held 8.6% (partially diluted).
No more filings by Goodwin or Sprott after 2012. They were both under 10% at last filing date. It could be that mutual funds do not have to file for holdings under 10%. This would be consistent with SEDI filings (with regards to the 10% rule for any shareholder).
As a result, it is impossible for us to know if the Goodwin and Sprott clients sold off their shares between 2012 and now. With their clients being in the selling mode at time of last filing, it is likely that at least some (more) of the shares were sold off from 2012 to now. It`s impossible to know how many of the remaining Goodwin and Sprott clients stayed for the acquisition and still hold Alexandria shares today.``