RE: Another PP goneYour theory of Private Placees blowing out their new shares intrigues me. A quick little Excel spreadsheet work on CD’s volume since the 4-month hold ended for the placees on October 16, 2004 certainly puts things in perspective for me. Let’s see, the participants purchased 60 million shares at $0.05 and shares for debt added just over 25 million, which totals just over 85 million new placee/ debt shares. Now my spreadsheet tells me that 16,784,504 shares have traded since October 18,2004 and of that just 5,707,148 in January of this year. I have not seen any of the insiders listed as selling their shares so I will conclude that the trading is happening among the general public, yes that includes the Private Purchasers. Now when I compare the number of outstanding shares which was 285,527,133 as of December 15, 2004 to the 16 million (which could have included tax loss selling) and the 5 – 6 million in January of this year it seems very insignificant.
By selling now the private purchasers stand to make what – half a cent a share - what a $28000 profit for January – if it was their selling. I seriously doubt it! If you want to see selling just wait until we start firing on all three fronts – Greenland, Nevada and Yemen and if were hit on some good intersections drilling, the appetite for CD shares(and the resultant price increase) will soon dwarf 16 million.
P10