Karl - the insider report lists Teck Corp as the seller of the shares. Personally, I think this is a most disgusting example of outright misconduct of people who should know better.
They were clearly presenting the image at the Royal York of a very significant discovery, and one could easily conclude based on the timing of the sale, that this was done to hold the price up while the 370,000 shares were dumped. There were easily 50 people in the room being told this was a very significant find.
Would I have ever liked to have asked the obvious question at the meeting, if you think this is such a find, why are you dumping 370,000 shares or so of Donner?
Unfortunately due to the lax rules on insider trading, these guys can run off with a lot of money hyping stocks to unsuspecting people. By the time the general public finds out, they are left with the paper that the guys just hyped.
Sorry, but I think this is the most disgusting example of insider trading since the last fiasco, and I simply have to ask, when is the Canadian mining going to clean up its act? No wonder, Vancouver closed below 700 today, noone has any faith in most of the companies or survellance activities associated with stocks that trade on the exchange.
Perhaps these Donner/Tech guys will get their act together and surprise us in the near future with a significant length of intercept to redeem thier disgusting action. If not, bascially all investors can really do is draw attention to this kind of insider trading practice in the hopes that someday the rules will get changed. Of course buyer beware, and all that but this sales of Donner shares in the middle of a Teck sponsored PR campaign, I think is relatively serious stuff. |
