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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
GPGI 24.69-1.2%3:59 PM EST
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To: Richard Mazzarella who wrote (1191)11/15/1996 12:56:00 AM
From: tom terry   of 14226
 
My guess is that the shares were Reg.S with a holding period of
45 days since the report said they went to foreign investors. My
understanding is that Rule 144 is private placements or optioned
stock sold to US investors and is restricted from public sale
for 2 years.

My further wild speculation is that around 500,000 shares
were sold at around $1.00 ea. including a $50,000 fee to the
broker(s). I think I read where the SEC is going to require more
prompt reporting of these sales to present shareholder in the
future. This is a much needed disclosure requirement.

The good news is that my chart of GPGI does not show any increase
in volume of sales since the 1st of Nov. In fact the volume has been
very low in recent days so maybe these foreign investors are in for
the long term with the rest of us! .
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