The share deal appears to have caused massive shorting So now Fidelity has gone from zero shares lent to 100% RNKLF shares per @lexcontrols yesterday, and I went from 0% lent forever on RNX.TO stock to 65% yesterday at IB . IB never lent a share of it until yesterday, have had it over a year. This data indicates that the PP and Transfer to Westgold of stock caused either or both of them to short the stock until it becomes free trading, to freeze their price. It likely caused millions of shares to be shorted yesterday.
Or bottom line the company caused the 12% crash or whatever it was yesterday. It was not buying HGO, it was not related to the big up day Monday (Cantor), it was how HGO was financed that caused huge shorting and the frightening of investors at same time. If they borrowed the money it would have caused no shorting and no dilution.
At this point think it may be a good idea to have a shareholder resolution that requires RNC to get shareholder approval for any sale of stock. With that in place then shareholders do not have to fear anymore sales of stock unless it makes sense.
Before the last 3 PPs Selby said RNC was fully funded outside of Dumont, but each of 3 PP PRs said is was needed to fund Beta only or partially as the reason, and that's just in the last 4 months. That is not good for his or the companies credibility with shareholders.
GCM.TO announced a PP this year and the stock crashed the next day, so day after that they redid the deal, they pulled the original PP and said it was due to the crash. Might be embarrassing but would like to see RNC pull this deal and use debt instead, they have HGO as collateral for the debt.
I am way too busy to do a shareholder resolution but encourage others to do so and will vote my shares for it. Just sending the resolution to RNC the day that happens will likely prevent another PP (Private Placement), it will get the message across. In fact just calling RNC and asking how a shareholder can put forth a resolution to prevent stock sales without shareholder approval will have get the message across.
"RNC can not sell stock unless the majority of shares vote to do so." Or something like that can be the resolution. It is very restrictive but seems necessary at this point.