Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Owning the entire Diamond Supply Chain

[mill44]

For someone who looks only at the chart it might seem like a correlation, Shneps, but you and me who follow PGD daily, we know that that is more or less coincidence.
If you read about rights offerings, you will see that it is considered the fairest form of fundraising because if you decide to participate you maintain your percentage of ownership in the company, if you don't you can sell your rights and be compensated for the dilution you suffer. PGD's rights never had any market, so anyone who did not or could not participate was forced to sell at least a part of their holding to exercise the rights.
You look at the charts and you can pinpoint the time when Gauwd woke up one morning, saw the news and sold enough shares to exercise his rights. You can also see the effect of Kidlapik's anger when he was told that no rights offering is in the cards just to see the news. The inability to get over 25c lately is most likely due to Oiltar dumping most of his holding.
When Ekim tallied the shares held by people here my opinion was that high ownership could mean trouble later. These people will more likely trade on events than follow the market.
Look at what's happening with PGD. Almost no interest, everyone is waiting on what PGD has to say. It makes the outcome basically a binary event and it will be based solely on the announcement. 50% up on anything but rights offering, 50% down on rights offering.