Generation Mining Ltd T.GENM

Character of Trading Changing

[Rainyday]

As Zola2 pointed out, now that GENM is over $1.00 there are new investors who will be attracted to it. Using the most recent GENM presentation there are 193.6 million shares outstanding on a fully diluted basis (incl. the 21.8 being issued to Sibanye recently announced). But 42.2% of the shares are owned by 5 key shareholders (incl. Sibanye) and there are warrants that are in the money that probably haven't been exercised as well as options (also in the money) in the 193.6 million shares figure. So it's reasonable to use a figure of 100 million for the public float (probably a little high).
The average daily trading volume on all the Canadian exchanges in November was 511,867. In December the average volume rose to 852,075 but if I exclude Dec 22 (day of the WPM announcement) the figure drops to 584,597. Using 100 million for a public float and 550,000 shares trading daily it suggests the entire public float is traded in less than 9 months. That's a very active stock and when one considers that there are a lot of committed investors who don't trade the stock - they are just sitting on their shares and maybe adding occasionally - it suggests to me there has been a lot of day traders flipping this stock around. Perhaps now we will see the character of the trading change towards longer-term investment by those (like many of us on this board) who care more about fundamentals than small moves in the stock price and have been frustrated by the market capitalization being so low compared to the NAV of the project. Here's to 2022!

[Sacks2022]

193 is getting up there I hope there won't be any dilution in the near future at this level.

[Sacks2022]

Shares Outstanding 145.2M Warrants 13.9M Options 11.1M Insider Ownership 6.5% These numbers add to 170 and I got those from the website but maybe has not been updated since the SS DEALL

[Rainyday]

The December presentation has 193.6 MM shares (fully diluted) and specifically includes the Sibanye shares issued in exchange for their working interest. Check it out on the company's website.

[Rainyday]

It's on page 28 of the December presentation (not sure when exactly it was posted to their website)

[oilsyd]

Just remember that 193 million is not due to share dilution.  They simply exchanged shares for ownership.  There are more shares but we own proportionally more of the mine so there was no downside with regard to the Sibanye buyout.  The current  number of shares issued is not that relevant unless they  have to do a major share issue to fund the mine.  Regardless of

[Y93H1979]

Agree so much with that statement Oilsyd. I've learnt the hard way not to invest in what COULD happen, and rather focus on what WILL happen. GENM management have kciked every goal so far, with the WPM stream being the best news so far. Their DD has vindicated my belief that this WILL become a mine.