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Amerigo Resources Ltd T.ARG

Alternate Symbol(s):  ARREF

Amerigo Resources Ltd. is a Canada-based copper producer. The Company owns a 100% interest in Minera Valle Central S.A. (MVC), a producer of copper concentrates. MVC, located in Chile, has a long-term contract with the El Teniente Division (DET) of Corporacion Nacional del Cobre de Chile (Codelco) to process fresh and historic tailings from El Teniente. The Company operates in one segment, the production of copper concentrates under a tolling agreement with DET.


TSX:ARG - Post by User

Bullboard Posts
Comment by SuperBull51on Jan 20, 2018 11:47am
92 Views
Post# 27400711

RE:Insiders selling by the boatload

RE:Insiders selling by the boatload
I Wonder how much you may have at stake, shorting ARG. You are generating FUD (fear, undermine, doubt) to make a profit, but now it is saturday, the stock market is closed, you can't cover your trades, and it's my turn to give you a little scare. You're right, an insider, Ross J Beaty, has sold 3000000 shares. According to this link https://www.4-traders.com/business-leaders/Ross-Beaty-05HM5K-E/biography/ he owns 15% of the company, over 27 mil shares, so now he would still have over 24 mil shares. He also owns a lot of stuff, look it up, he is filthy rich. That is a danger with a company that is held by deep pockets, when one needs a little pocket change, it can move the markets a lot, 3 mil additional shares in the market float had its effect. All these big positions have to be sold some day, and it can be achieved in the followaing ways: 1 - a share buyback at market price (here the NISB is not in ARG's short term plans) 2 - a block trade from a deep Pocket to an institution (few mutual funds invest in commodity producers, ARG is not ripe) 3 - a block trade from a deep Pocket to another deep Pocket (well we know Luzich partners is buying, why don't we do that) 4 - Simply, slowly sell at market price (now that there is a real positive swing for the company, it may be a good time to unload a bit...) FICTION at the bar, Toor, Beaty, Dean Beaty: Guys I need a little pocket change. Toor: No problem I'll buy your shares (option 3). But wait, there becoming really expensive, really fast, why don't you simply dump them (option 4), so I can buy them back next week at a discount, I'll be the hero again and make zillions. Beaty: OK, will do. Dean: Hey guys, let me unload my shares too, just before you do, I got payments to make... That is pure fiction, of course, but again, don't short good companies, or if you do, cover quickly. Have I got you a little scared ?
Bullboard Posts