Following a lead, I did some digging into the insider trading patterns at MXR, in particular into those of Russell Godwin during Feb/Mar '97. During that time, MXR's stockprice spiked impressively on news of fantastic assays from Mina Claudia (yes, the same) and subsequently slid virtually uninterrupted to the post-reverse-split low it is at today.
Note: A number of required filings by Russell Godwin during this time have subsequently been altered. I do not have access to what was originally filed, though I would very much like to. I am attempting to get the originals from the BCSC. All dates and numbers are from the amended filings.
On March 14 MXR/Russell released a PR stating Russell had acquired a 10% interest in MXR. It does not state when. Looking at the filed forms, there is a 750k block acquired by Russell on Feb 26, right before the spike. It also states Russell sold the block on the very same day, so it appears he held that 10% interest for less than one day. But what is really interesting is Russell's other holdings; at the time of the PR stating he had acquired the 10%, he appears to have been selling his holdings. By March 20, he had no MXR holdings at all.
So I have two questions: first, are there any factual errors in the above, and second, how much stock in Medinah do the principals currently hold? I'd like the latter in writing. |
