Gold Reserve Ltd V.GRZ

Camac continues buying in the open market

[agtavy]

CAMAC continues to buy throughout the month of February. Nearly 150,000 shares

Feb 27 42,700 @ $1.55

Feb 24 26,600 @ $1.55

Feb 23 9,400 @ $1.55

Feb 22  6,400 @ $1.55

Feb 21 16,900 @ $1.55

Feb 16 7,200 @ $1.55

Feb 16 2,200 @ $1.55

Feb 6 31,800 @ $1.55

Feb 3 10,100 @ $1.20

 

 

[investorbiggie]

I keep hoping that they know what they're doing.

[Shaft4300]

Could this be short covering.

[agtavy]

Probably not.  Camac owns over 15% of the total shares. They have been a major investor for many years so it seems unlikely they were short with that huge position. They have been consistently accumulating shares in the open market for a while. It seems they have a plan.

[investorbiggie]

CAMAC's addition to the board at GRZ is James Tunkey. According to the press release linked below, he has "28 years of experience in global risk advisory, including asset tracing and recovery, and political and operational risk management." Note: asset tracing and recovery. Maybe this is their angle.   https://www.businesswire.com/news/home/20221107006110/en/Gold-Reserve-Inc

[agtavy]

With Camac's 15% ownership in the company, getting Tunkey on the board is huge.  They have incentive to do something.   GRZ is legally owed over $700 million (not including interest) as determined by several international courts. That's a gross of $7 per share which means Camac's cut would be over $100 million. You can bet that Camac didn't get a seat on the board