Can't see how Glimmer (the mine or the company) can make money in this poor POG environment.
Some of my statistics from a couple of years ago include:
MATN paid $1,400.000 for 1,250,000 shares of GME and maintained first RoR 124,561 held by a director (?Kent).
Matchewan (12,445,025 shares outstanding) acquired 43.7% interest in GME in January 1997.
The control of the 12,445,025 breaks down as follows:
5,055,725 (40.6%) are held directly or indirectly by Richard McCloskey. Also 342,965 (2.8%) directly. McChip Resources (MCS-T) 3,130,000 (25.2%). And 1,575,656 (12.7%) AnnaMay Flett/Boanne Investments and 7,104 with PH McCloskey and HPM McCloskey. For a total of 10,111,450. (81.2%) of MATN shares are controlled d/indirectly. This leaves about 18.75% controlled by the "investors".
Seems to me that this summary could be out of date because I think that MCS-T may have a bigger share in Glimmer directly. Some day I may find the time to update my analysis; but if the POG is allowed to trade freely (once Clinton leaves office) I can see these four (EXL, GME, MATN & MCS) doing some running after the top two tiers of gold companies make their rally.
Winzer |
