images/theme/quote.png") 0.1em 0.1em no-repeat rgb(215, 218, 236); border-top: 2px solid rgb(153, 153, 170); border-bottom: 2px solid rgb(153, 153, 170); padding: 1.1em 1.4em; margin: 0.1em 0px 0.3em; overflow: auto;"> Le journal de Montreal s'en mle:
Ressources Qubec vend du Orbite
Investissement Qubec, travers sa filiale Ressources Qubec, a vendu cette semaine un million de bons de souscription de la compagnie Technologies Orbite, de Cap-Chat en Gaspsie, pour un prix de 41 cents l’unit. Ces bons avaient t acquis pour 24 cents l’unit en 2014. Le profit est de 170 000 $ pour l’tat. En juillet dernier, Qubec avait discrtement fait passer de 10 25 M$ son investissement dans la compagnie, qui peinait dmarrer sa production d’alumine, aprs de nombreux dpassements de cots.
https://www.journaldemontreal.com/2016/10/28/celine-se-departit-dune-propriete
On June 1,2016, Orbite announced the closing of an private placement with IQ. It had a month hold period, which was October 1,2016.
If it took a couple of weeks to to convert the debentures, IQ sold as soon as they could.
This might explain the large sales by Banque Nationale and the drop in the share price.
What is more interesting, is that they were selling at all. IQ has information, that the retail investor doesn't. They can talk to Kelly, and visit the plant.
They have on staff, people that can evaluate the readiness of the plant. They can ask about the costs, and determine the profit.
And they are selling. Not a good sign.