Southern Pacific Resource Corp STPJF

Amount of debs.

[namlous]

Is it a good thing this many debs are being exchanged. This seems to be a lot more then normal. Is this insttutions that woiuld be buying these or are they allowed to take a peak under the hood druing this review. Or would this likely be private investors just taking a gamble. Thanks for any input.

[monzie]

If you take a look at the buyer of the shares they were mostly if not all bought by Scotia, so chances are it was the actual bank and not a bunch of retail investors who coincidentally were all using Scotia as their broker.  So today's trading was pretty much ITG getting out and Scotia buying up more. 

[namlous]

Thanks monzie. I appreciate that.

[rad10]

Monzie - volume was only 364K.  It is conceivable that this was just a single large limit order filling as the total amount invested is only a little over a 100K.  This is well within the scope of a single private investor.

[ShatnersRug]

Scotia and Anon have done the bulk of the purchases. The same 5 or 6 houses have been selling. Fidelity, Byron, Laurentian, and others. Could these 5 or 6 sellers and buyers all be related to the same entity. PP? Accumulation? When there is even the hint of buying it's the same 5 or 6 sellers that kill any momentum. Thoughts?

[pleazu69]

They are increasing positions. support at .12 and not much resistence past .19 They must have nerves of steel trying to collect an extra 20%

[ShatnersRug]

If that is the case, this is the month to cash out if short. Second ICD up and running by now, and, if improved performance comes as quick and with as much success as the first, it won't be long before we see some buying and short covering. In the meantime, shareholders will wait until the shorts cover. From a short position, I can understand the greed factor. Easy to manipulate a company'

[monzie]

Well then rad10 I guess that same private investor is buying up all the debentures today as well

[namlous]

Is anyone and everyone that signs into the review process in a blackout period. If they have looked under the hood and they say they do not want to be part of the soultion still in a black out. Can they start purchasing after a certain period like 30 days or after the process is done.

[monzie]

namlous this is a question that you would have to ask IR.  I'm sure Greg Foofat will have an answer for you.  The email address is [e-mail].  Although it's Friday so he may not respond until Monday but he is pretty good and quick at answering questions. 

[namlous]

I rook your advice and asked IR. THis is the response. The Board of Directors has established a Special Committee comprised of independent directors to oversee the process and RBC Capital Markets have been retained to assist the Special Committee and the Company with this process, not BMO. Those that wish to enter our dataroom must sign a confidentiality agreement and those with material non

[rad10]

All 60 grands worth of them................... These are very thinly traded.  I own a few, but wish I had bought more recently!

[monzie]

rad10 wrote: 60 grands worth of them...................." Yes rad10 all 60k spent yesterday and 120k spent the day before.  So 520k worth of debentures were bought from a single entity for roughly 180 thousand dollars.  Not sure why you're arguing this point - I was simply saying that a typical retail investor doesn't normally pick up 520k worth of debentures on his Scotia

[rad10]

OK - Monzie no disrespect.  I enjoy your posts and your insights.  Rest assured - an individual made the bulk of these purchases ;-)

[adamsight]

In Monzies defence this could be a smaller fund, there are quite a few that gamble in penny stocks. I agree its unusual for an individual, if someone had insider knowledge which might motivate a small guy, I would think they would go after more liquidity and that would be the common stock, not debentures. IMHO A