OTCQX:BALMF - Post by User
Post by
goldhunter11on Jan 23, 2020 9:34am
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Post# 30588033
Eric Sprott >9% in BAR
Eric Sprott >9% in BARSome discussion in ceo.ca/bar wrt to >9% in BAR (Slide #6, Jan 2020 Corp Presentation) for info:
"BAR just slipped that >9% for ES in slide 6 of the Jan 2020 Corp Presentation, perhaps at the request of ES, since he might not want to stir up anything up, until KL/Detour merger has been wrapped up in a few days (28 Jan). The first investment was a 3.5% at 0.17, with 1/2 wts at 0.30. He could exercise this (2.94M) anytime, presumably by paying some chump change ($0.88M). As you said, the math would bring his total to >9%. As I recall, around the time of the first investment, there appeared to be some restrictions about ES buying Quebec FT shares (for Quebec resident or companies only? May be this is with respect to his WM investment, but he took some shares through the National FT, but not the Quebec FT). Some experts may want to confirm this.
So, his additional investment could be a direct PP between BAR and ES, as long as the price is right for ES (just like he paid the same price as KL to get 10M shares of WM from Day Construction. But >9% is a good indication (added comments: of his seriousness). But still <10% presumably, so he does not have to report as an insider. However, the exercise of the wts and the additional 5% would be "material enough" for the company, i.e. BAR, to issue some kind of announcement. May be they will announce, but just delay it a little? waiting for the Detour thing to be blown over."
GH11
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