Number of shares...And the pumping goes on.... :(
Number of shares for LGO as per TMX = 412,674,882
It's hard to tell that we had a 10 for 1 recently
It is also hard to get excited when insiders bought half of the company at .17cents a share with an option to buy another 25% at .29cents.
I feel bad for long time reatil investors who lost their shirt on this one but new shareholders need to be aware that in addition to the dependency of this company on the price of vanadium (the company continues to lose money for every pound that they produce at current prices) there is also the fact that ownership of the company is in Arias' hands and minority shareholders have been ignored in the past.
Recent news:
Largo Resources 209,392,178-share private placement 2016-03-07 17:56 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Jan. 19, 2016.
Number of shares: 209,392,178 shares
Purchase price: 17.5 cents per share
Warrants: 104,696,089 share purchase warrants to purchase 104,696,089 shares
Warrant exercise price: 29 cents for a five-year period
Number of placees: 60 placees
Insiders: Arias Resource Capital Fund II (Mexico) LP, 120,199,448; Arias Resource Capital Fund LP, 26,313,414; Arias Resource Capital Fund II LP, 6,819,823; Mark Smith, 4,218,000; Michael Mutchler, 1,143,000