Post by
SoapD1sh on Jul 24, 2019 10:40am
Private Placement hasn't closed yet?
I'm confused as to what's happened here since Jose left (and curious as to why he left NGZ). It's been a downhill spiral since then... Feb 6: PEA update was great news and results. Economic feasibility was in the green. March 11: share consolidation. (I lost 8K in a 4 day span through the chaos). May 14: Private placement for 0.225/unit (4.5million total - did not close) June 17: Private placement for 0.12/unit ($960K - did not close) it keeps getting worse. the PEA results are good but the latest private placement for funding still hasn't closed. Something is happening internally because none of this makes sense to me. I've a large sum here... I don't think I have the patience for these games anymore... Anybody with any generic insight would be nice. I'd like to try understand the different things that could be happening. Not even a 0.12/unit $960K fund raising has been close and it's been over a month!
Comment by
investorspeak99 on Jul 26, 2019 4:53pm
Right, Jose left as you mentioned. But he still has not sold his shares (1.7 Million shares). At least that's what the "Market Screener" info page shows at: https://www.marketscreener.com/CODRINGTON-RESOURCE-CORP-15606865/company/ So if he's still holding onto his 1.7 mill shares, then he still likes this play..I hope that stands for something positive.
Comment by
SoapD1sh on Jul 29, 2019 9:49am
If I recall correctly I believe he received a big chunk of shares that couldn't be sold for a few years... BUT - definitely not 1.7 million shares. So even there are a handful locked in, there's still more that he hasn't moved.