My take on the 700,000 share purchase + RetirementI think that the RECO management team reads this board and that of CEO.CA
There was alot of chatter on the Doug VP Internal relations purchase of 700,000 shares at $ 1 each.
Two views of this retirement:
(a) He wanted to sell his position and could not as an insider therefore he retires and is no longer restricted.
Or,
(b) The purchase of 700,000 common shares based on 60 days of drilling is about as close as you can be to buying shares with insider information, which is illegal.
Perhaps Doug did not want to have any legal issues with point (b) and decided it was best to retire as it gives him the option to sell his shares and, also the option to say that he did not know anything material as all 3 drill holes were not done.
RECO appears to be very sharp having lawyers on standby to avoid any legal issues and, this could have caused them some grief.
It was a good move. I personally think that the move was done to avoid insider allegations.
MPO