Amerigo Resources Ltd T.ARG

New Press Release - Amerigo Announces Board of Director Changes

VANCOUVER, British Columbia, July 02, 2024 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) (“Amerigo” or the “Company”) announces that Michael Luzich has retired from Amerigo’s board of directors effective June 30, 2024. Mr. Luzich joined the Amerigo board on May 12, 2020. ...read article.

[PublicEye]

Now we know why there has been insider selling. Michael Luzich and partners who were doing the selling are leaving the board to pursue other interests. That is a relief to know. Perhaps a bottom has been reached. That was timely information.

[savyinvestor333]

maybe or maybe he plans to sell his entire state and will not have to report sales when he is under 10% ownership

[TimeTooSoar]

I think the company will be purchasing from him when share buybacks start... 

[goldens]

According to CEO.CA Luzich partners owns just over 11 million shares so that works out to 6.9% and they should not have to report as a 10% holder. Although on the CEO site it has them as a 3-10% holder. I always thought that only 10% and higher had to report. Otherwise why would you report selling if you didn't have to report. Transactions are also reported on the SEDI site. They have a ways

[savyinvestor333]

Insiders have to report. Once he is not an Insider ( on the board) he won't report the sales.