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Gold/Mining/Energy : Exall Resources/Glimmer Resources
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To: James N. Wilson who wrote (473)2/3/1998 8:15:00 PM
From: Winzer  Read Replies (1) of 1319
 
What is significant about stock options ? To me it presages the big run. It is an opportunity to let the insiders cash in on the rise in company fortunes. So they get the SO's @ 75c. Sell them at 5$(or more), then the 4.25 is free money (after commissions). the announcement was for 300,000 good until the year 2002. The text is as follows:

Glimmer Resources Inc GME Shares issued 5,240,412 Feb 2 close $1.02
Tue 3 Feb 98
Options Granted

On August 27 1997, the company has granted director and employee stock options on 300,000 shares at $0.75 expiring August 20 2002.
c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

Then in another equally positive move Glimmer bolstered the ranks of the directors with the addition of an ex Barrick executive. What could be the significance of this? See PR:

Director appointed

Glimmer Resources Inc GME
Shares issued 5,240,412 Feb 2 close $1.02
Tue 3 Feb 98 News Release

Mr Richard McCloskey reports
Mr John Lill has joined the board of directors effective January 29 1998. <P> Mr Lill has extensive operating and senior management experience in open pit and underground mining having worked in the US, Canada, Africa and Chile. He was most recently with Barrick Gold where over the past ten years he held a number of senior positions including senior vice-president US operations and president Chilean operations.

(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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