Over $1,000,000 of insiders very own sheckles on the line.
???
If they've "been there, done that" successfully before... that seems more of a red flag than a check in the box.
That's not really even in the ball park of a warm fuzzy... but more like someone playing with the house money...
I'd rather see % vs $ signs, for one thing... only, not "gifted" %'s as "incentives"... rather than "at risk" %'s ?
A gold miner I'm following now just announced share purchases by two board members... 48,000 and 35,000 shares... the issue dual listed in the US and London....
In London,. selling at 75.00 it says... in the U.S. at $0.85... so, you might think that's an ADR issue with some esoteric division... U.S. shares and foreign listings often not being linear in shares/per ADR often even having more than one ADR with different splits ? So, is that one guy chipping in 3.6 million pounds... another 2.6 million that he's chipping in for? Given the U.S. market cap is $73 million... that would be impressive... but, the London listing says the market cap is only 56 million GBP... and the news says they own totals of 70,066 shares, for 0.09% and 73,332 shares for 0.10%...
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So, the issue is... the shares in London are listed as ORD 10P shares... prices are in pence, not pounds... so 75.00 pence isn't all that far off of $0.85... but its a long way from 75 pounds... They've bought shares worth 48,000 x .75 = 36,000 GBP... $48K... and 35,000 x .75 = 26,250 GBP... $35K... and together own just 0.19% of the company...
So, maybe useful, still, in terms of timing a buy as they're still insiders buying a non-trivial amount of shares instead of selling... but, if the bet pays off for them soon... they'll be able to buy a new car... not retire wealthy ? Of course, if gold rockets higher soon, and shares leverage that over time and are worth $85 instead of $0.85 each in a couple or ten more years...
Looking at the Yahoo page... my gold company has insiders that own 29%... institutions own 41%...
Looking at GENM.TO... with a market cap of $118 million, the insiders own 17%... so not as grim as you made it sound... insiders have a respectable bit of skin in the game... but, institutions own only 3.87% ? And, on Yahoo, there's no bashing posts from Simply Wall Street masquerading as news ... so there's no one working at trying to get in cheap when they talk you into giving up ?
I don't think there's anything wrong at GENM that higher commodity prices won't cure... but, even if / when that happens... seeing SBSW as an ideal partner for GENM... still doesn't make GENM into an ideal partner for SBSW... or even make GENM close to being a rational choice of partner for SBSW... ?
SBSW let their option expire... I think mostly as part of planning to conserve cash and reduce risk exposures they couldn't control any other way... as prices cratered... when they're fully aware that other choices exist that might be a better match to meet their own future needs ?
And, when SBSW dropped the option... who was it that rushed right in to pick it up instead ?
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