Tudor Gold Corp V.TUD

Insider transaction

[CaptainE]

Helmut Finger looks to have exercised 1.7M .30 options and bought another 1.7M shares on the open market at .91. Maybe part of the ATM? I didn't search too many details yet but it sure looks bullish. And the recent news of an extension of warrant expiry to next year and not further into the future is fantastic. It shows some confidence in the warrant strike being achieved. At least this is my interpretation and I sure hope it's bullish because I've added a good chunk lately. Long on the amigos.... always lurking and rarely commenting. I appreciate all the input from folks here.

[CaptainE]

Oops, to clarify, both transactions were private and not open market. At least the warrants didn't get repriced. Anyhow, let's start pushing north here. Cheers all. 

[Larry60]

The 2 transactions were related.  The 1.7M options were exercised at 0.30 so that is a disposition of warrants (-1.7M).  By exercising, Mr FInger acquired 1.7M shares (the reference to 0.91 is not what he paid, but market price at time of exercise/transfer).   The warrants expire March 20th which is why he exercised. Yes, glad they didnt have to reprice 30 cent options. 

[CaptainE]

Looks like KK is holding 500k shares now. Hulmut also adding to his personal position as well as through Tudor holdings. 

[Larry60]

Both Finger and Konkin exercised their $0.30 warrants that expire tomorrow.  So their holdings of warrants went down and their holdings of shares went up by an equal amount. Only positive about that is that shares are above teh 30 cent strike price!!!!  Sorry, my mistake......also positive that they are willing to buy 90 cent shares fro 30 cents. Would be nice to see these guys buying

[cskhurasu]

Excercising 30 cent options with the stock at 91 cents is NOT good news. KK would have had to put up $150,000 to excercise his 500,000 options. He will pay tax at the full personal tax rate on the gain  (91-30 X 300,000). The gain of about $300,000 will require him to pay abpot 53% of that in income tax or about $165,000. So, KK is out about $315,000 cash. Watch for him to try to get this

[paydirtontario]

Do we know the total number of shares of Tudor Ken owns ?

[CaptainE]

He currently holds 500k shares.despite the mouth breathers negative spin on this it is a positive. For some reason the gum flappers that nobody cares about think it would have been better to have the options expire and Ken would still hold zero. So he bought before the bargain slipped away. Sure open market buys would be a whole lot nicer but it's hard to see these transactions as any sort of

[Larry60]

Chill everyone.  As I said, its a non event.  The warrants expired today so Ken and the FInger had to exercise unless they wanted to walk away from free money! Ken also owns 2.9M warrants.  Hes well positioned!!!!! Most of his options remaining are at 60 cents!!!! Good for Kenny: Security designation: Options (Common Shares)  

[cskhurasu]

How is dilution at 30 cents good for all the shareholders who paid so much more?

[Larry60]

Dilution existed already ie the options were granted a few years ago.  They were already included in fully and partially diluted O/S numbers. Ken should be rewarded for takng this from a piddly ant company to something that is real and potentially the largest mine development in the world one day.....