Fortune Minerals Ltd T.FT

Insider Ownership

[Lotten]

In August 2012 insider ownership: 21%
In August 2017 insider ownership: 15%
In August 2019 insider ownership: 15%
In November 2021 insider ownership: 3,5%
Today insider ownership: 4,01%

As we can see there has been some dilution in the insider ownership between 2012-2022.

How can it be explained? And what happened between 2019-2021?

From a blog:
https://www.theliberalright.com/blog/juniormining

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https://www.slideshare.net/Companyspotlight/fortune-minerals-august-2012-investor-presentation

https://s1.q4cdn.com/337451660/files/doc_presentations/2017/08/170801-Fortune-Minerals-Investor-Presentation.pdf

https://s1.q4cdn.com/337451660/files/doc_presentations/2019/08/190820-Fortune-Minerals-NICO-Project-Presentation.pdf

https://s1.q4cdn.com/337451660/files/doc_presentations/2021/11/211201-Fortune-Minerals-NICO-Project-Presentation.pdf

https://www.fortuneminerals.com/investors/share-structure/default.aspx

[Marketbeat]

Thanks for the post- insider ownership has decreased because I believe procon is no longer in ownership of 5%+ of the outstanding shares since they haven't participated in any of the recent equity raises. 

[Lotten]

Procon is not an insider. They acquired shares in 2013. They own 9,988% as of november 2021. https://finance.yahoo.com/news/procon-resources-inc-acquires-shares-161037363.html https://www.newsfilecorp.com/release/105792/Procon-Announces-Filing-of-Early-Warning-Report

[Marketbeat]

I was under the assumption that they *were* insiders.  in any case. Ft is farther from 'production' and we will actually find out if this project will move forward. maybe or maybe not. A sincere Goodluck to all. 

[Jim1712]

Correct Marketbeat.  They were insiders and had over 10 percent.  They did not participate in the last few raises which dropped them below the 10 percent  threshold for reporting  . Jim 

[Tuckerthefox]

I believe Procon still have 2 members on the board of directors. One current and one former ceo. TTF

[Lotten]

Seems like your assumption is correct Marketbeat. :-)

[sirfartalot]

All in my humble opinion: You could ask investor relations for an explanation. As always due your own due diligence. I'll take a crack at it though with simple logic and math. Here is my take on it: If one is no longer an "insider", are their shares part of the insider percentage count or is that portion removed from the count ? 15% subtract ~9.9% = around 5% Sprinkle in some

[Lotten]

Some good points there sirfartalot. Thank you!

[Nick1969]

jumping the sinking ship..

[Jim1712]

Head first. It's the  fastest. Good luck.  Jim