RE:RE:RE:Book your flights As a point of clarification, I would NOT classify Burmi's sales last year as a large amount of shares.
Let's take a look at his investment timeline to better understand what I mean.
July 11, 2019: Burmi became an insider when both him and John were appointed to the Board. This happened because the 2 of them were major investors in a round of financing that happened just prior to this. In exchange for their substantial investment, they were promised seats on the Board. I suspect both John and Burmi understood the intrinsic value of the Ishkoday, and the plan for them to take it private via an ALL CASH transaction was hatched around this time.
We know that at this time Burmi split his holdings between himself directly as well as his numbered corp.
July 2019 Burmi Ownership 10,000,000 shares owned by the numbered corp
10,000,000 warrants at $0.14 owned directly by Burmi
250,000 options at $0.11 owned directly by Burmi
--
20,250,000 shares fully diluted
^^ THAT IS A MASSIVE AMOUNT OF SHARES, AND IN FACT MORE SHARES THAN CYNTHIA OWNS TODAY
From June 2020 and Dececember 2020: 150,000 + 250,000 options granded directly to Burmi
As at December 31, 2020 Burmi ownership: 10,000,000 shares owned by the numbered corp
10,000,000 warrants at $0.14 owned directly by Burmi
650,000 options owned directly by Burmi
--
20,650,000 shares fully diluted
May 2021: -Burmi exercised his 10,000,000 warrants
-He immediatly disposed of 8,000,000 shares privately at the same price he exercised them at, $0.14. One has to assume this was for tax planning purposes. And although they were no longer under his name and control, he must have still had some type of control of these shares. I can't see a guy just giving away 8 million LME shares for no reason.
As at December 31, 2023 Burmi ownership: 10,000,000 shares owned by the numbered corp
2,000,000 shares owned directly by Burmi
650,000 options owned directly by Burmi
--
12,650,000 shares fully diluted
January 2024 :it was announced that Burmi has notified the Cynthia he may sell a small amount of his holdings for personal reasons. Over a couple months, Burmi sold 734,500 shares (about 6% of his total holdings of 12 million shares, plus his 650,000 options). This is NOT a large amont of shares relative to his holdings.For whatever reason, he needed to free up cash. That happens to everyone from time to time.
As at December 10, 2024 Burmi ownership: 10,000,000 shares owned by the numbered corp
1,265,500 shares owned directly by Burmi
650,000 options owned directly by Burmi
--
11,915,500 shares fully diluted Today Burmi must be one of the Top 5 or 10 shareholders in LME. Let's not forget he did something with 8 million shares that he private disposed of. So let's say he has nearly 20 million shares. I'm sure everyone on the LME board are eager to get a deal done. This is what they have been working on since they made their iniatial investment in LME in 2018/19. This has been the plan all along.
Primpage wrote: Thanks for the update! I appreciate your optimism but I don't think there's too many investors in LME that care about future drilling and exploration plans. Cynthia and the board have little time to deliver on their mission. Let me remind everyone that Burmi sold a large amount of shares and now John Covello has been working on buying LME with foreign money, he is faced with becoming a hero or a zero. Tick tock!