RE:It appears Mr.Eric Sprott purchased 1 Million more shares Jimpro,
SEDI did not report 94,474,084 M shares for ES, see link below. It says ES has (and through the Ont # company) a total of 47,237,042 M shares, which amounts to just above 10% OS. Also, it's not 1M shares, only 0.5M shares involved in recent transaction.
It's kindda strange, but SEDI repeat the entries twice, one for the Ont # company and the same set for ES, the beneficiary owner of the company. But, one should not add the 2 set of shares together.
Currently, ES is considered to be an insider, hence he has to report his transactions on SEDI. There is another set of rules: When his holding is reaching 20% he woul need to be careful, since this would trigger the (creeping) takeover threshold...And any offer for more shares would have to be offered to all shareholders. So usually, a major shareholder would stop at about 19.9% before taking another leap.
At any rate, 10% holding is a large enough sum as a vote of confidence. He might take up more shares, or just sit and wait for some offer (from KL???) to come along for his 10%.
Cheers,
GH11
---------------------
https://ceo.ca/api/sedi?insider=&symbol=RNX&date=&transaction=&amount=&undefined[company_symbol]=RNX
Jimpro63 wrote: 500,000 at .63 under Sprott, Eric S. AND
500,000 at .63 under 2176423 On., Ltd
Total 1 Million more shares and based on SEDI, now owns a total of 94,474,084 Million shares..
I'm assuming a pretty good signal to Buy RNC Minerals ( Royal Nickel )