Post by
production05 on Feb 26, 2014 8:33pm
3:36 pm today - insider sale on the open mkt
Per SEDI, Pacha Minerals sold 2 million Luna shares today. This is the investment company of Mr. Baertl. Pacha still holds 12 million Luna shares (post sale). Reasons for the sale are obviously unknown. The $20 million bought deal financing closed off yesterday. It`s not clear if Mr. Baertl participated in that financing and sold these shares to balance his holdings in Luna. There are no subsequent filings on SEDI, as yet, to suggest this. It`s not clear if Mr. Baertl has just had enough of Luna`s terrible performance and was ready to reduce his position in the company. Perhaps Mr. Baertl simply needed the cash for other purposes. I have absolutely no idea. We`ll have to see if he decides to shed more shares in the upcoming days.
Comment by
mork10 on Feb 27, 2014 12:24pm
Terrible news!! It's never a good indicator when the single largest shareholder of a company sells 2.0 million shares, specially when 2 years ago he was buying shares on the open market at $ 0.70 of the "old money" (before the 5 to 1 consolidation) or $3.50 of the "new shares"!!!