RE:annual shareholder letter Perfectly written @microcaptt .
And to @AnthonyMilewski :don't think you're dealing with dumb, inexperienced investors on this forum or the German language forums. The business case of Nickel 28 is complex and the investment case is not easy to understand.
One example regarding generous grants: I refer to the recent transactions of still-CEO Justin Cochrane. Here according to SEDAR:
Filed 2021-12-07 17:51
Tx date 2021-12-03 $NKL
Nickel 28 Capital Corp. (formerly, Conic Metals Corp.)
Cochrane, Justin
5 - Senior Officer of Issuer
Direct Ownership
Common Shares
57 - Exercise of rights
+219,958 vol 4,196,833
Filed 2021-12-07 17:49
Tx date 2021-12-03 $NKL
Nickel 28 Capital Corp. (formerly, Conic Metals Corp.)
Cochrane, Justin
5 - Senior Officer of Issuer
Direct Ownership
Rights Restricted Share Units
57 - Exercise of rights
-473,334 vol 1,279,999
For me this means: The CEO redeemed 473,334 RSU. Subsequently, 219,958 shares were credited. The difference of 253,376 shares were presumably sold directly on the market. If these facts are not correct, please provide me with a substantiated explanation. I have seen that the still-CEO subsequently bought 22,500 shares on the market at 0.88 CAD.
Of course I am aware that Justin Cochrane has to pay taxes and needs cash for this and therefore has to sell shares. No problem.
But think again about using the $6 million to buy back shares. If the repurchased shares are reissued directly, then it's a zero sum game for existing shareholders. For the generous share-based-compensation I expect a stringent strategy to increase the shareholder value significantly.
urai58
P.S. I own 0.x% of Nickel 28
Translated with www.DeepL.com/Translator (free version)