Insider sales - Did a (fake?) news story get the math wrong?Befow are two paragraphs of a news story and a link to it. The math looks very wrong to me. It says sale of a combined 499,000 shares was a 39.8% reduction in Jonathan Awde's holdings. The second link below is to some annual filings yesterday on Sedar. On page 121 it says Awde still owned 2,730,200 shares as of 3/29/17. There's no way that after selling 499,000 shares equalling about 40%, he'd still have nearly 2 3/4 million shares.
What about motive? Directors and Officers have limited windows during which they can buy/sell. Before selling, Awde had 3,229,200, I think. He probably has or will have future option grants. Assuming he could legally sell to assist GDXJ in buying, I don't see it as sinister. To me it seems logical for him to provide some liquidity.
The same news story (below) says that Corp. Sec'y Richard Silas sold 102,000 shares equal to 80.3% of his shares. Except the Sedar filing says he still owns 556,650.
None of the other Directors own anywhere close to these amounts. It makes sense to me.
I sorta hope those shorting based their sales on the fake news story. Do your homework!
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Jonathan Charles Timothy Awde, CEO, Director and 10% Holder, disposed of 285,000 Common Shares on a direct ownership basis and 214,000 Common Shares on an indirect ownership basis for registered holder 631208 BC Ltd. at prices ranging from US$2.575 to US$2.63 between March 14th and 15th, 2017. This represents a $1,740,091 divestment of the company's shares and an account share holdings change of -39.8%. Richard Silas, a Senior Officer and Director, disposed of 102,000 Common Shares on a direct ownership basis at a price of $3.480 between March 15th, 2017 and March 16th, 2017. This represents a $354,960 divestment of the company's shares and an account share holdings change of -80.3%. https://www.canadianinsider.com/money-moving/2017-03-20/ceo-selling-gold-standard-ventures-gsv
https://1hjlwtvm90u224x1z26vycp1-wpengine.netdna-ssl.com/wp-content/uploads/2017/03/GSV-AIF-dated-Mar-30_2017_final.pdf