RE:RE:RE:Gold - Manipulating and Suppressingnugget,
It's busy time for all key players to compete for strategic positions. Accumulators will try to suppress (small trades) and buy at the same time in large quantity. The usual strategy is buy low/sell high later. So keeping the price low from now until the release of the updated RE (~6 April 2018) is desirable. It's also (pure?) coincident that ELD Arbitration case in Greece is supposed to be concluded on 6 April 2018. ELD is a potential suitor and AZX BoD would want to know if ELD shares will hold up following the conclusion of the Greek Tribunal (they are 6 hrs ahead of us). Also, for some reason EO wanted the Special Meeting to take place no later than 10 April 2018.
Early April is certainly a busy time.
It should be noted that EO wanted an early meeting (who would want to have a prolonged legal battle, since it would cost him quite a bit of pocket money). The BoD did not comply with this early date means that he does not have enough vote from current board members (may be 1 versus 5 votes) to force an earlier date, and the BoD has decided instead on 24 July 2018.
By the look of it, EO could only count on the holdings he and MV has (~1%FD), and the rest of the "friends" in the Founder Group (~4.1%FD) may drop out/sell out from now until 24 July 2018.
The difference between FD and OS is 102M shares most of which would come from the exercise of the wts (from 0.09 -0.10). So, the company AZX could raise at least $9M (ES would account for $3M). This amount of cash would be plenty to support current activities, including drilling as outline in the 2018 drilling program.
If EO realized that he is fighting a losing battle and could not see pouring money in the bottomless legal pit, then he might just approach the BoD for a termination of his fight. Note that AZX United has 8.03%FD, and most of us would not support EO scheme of equity financing for $25M cash at huge share dilution.
GH
nuggetin wrote: As well, the same thinking can be applied to AZX's share price as evidenced at the start of trading this morning. There was a quick clear out of shares at the .09 level wihich was quickly replaced by another large lot at .09. By doing so consistenly, do they want us to be satisfied with let's say a 50 percent offer over the current price.Keep an eye of this and the houses involved although they can shift around if a pattern appears evident