Sage Gold Inc SGGDF

Insider Holdings

[snowtigerrr]

Around 71 million fully diluted shares of SGX are held by insiders according to SEDI. Cartesian has 18.5 million warrants and has been selling them over the last 7 months through Anonymous (001), by my count they've sold around 14 million which would put them down to 4.5 million remaining and total insider holdings around 57 million shares. The majority of the warrants exercised have been steadily accumulated by house 80 over this period. Cartesian is Sage's main financier and it's in their mutual interest to flush out the warrants as we near production (Cartesian gets compensation for financing Sage to production/Sage receives cash from warrant exercise for operating budget). Aside from Cartesian's gradual warrant exercise the float is almost completely owned by executives and long term investors.

Once Cartesian's warrant supply overhang is fully absorbed and SGX releases material news on drilling/reserves/exploration/production we could have a significant breakout.