Geodex Resources - GXM.V (was Agate Bay ABE) Message Board

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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)

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To: Joseph LEE who wrote (125)	5/19/1998 11:54:00 AM
From: Baywall	Read Replies (2) of 210

Joseph, Ideally, I would like to know if any insiders participated in the shares for debt financing. I am assuming they did, but this is speculation on my part. This method of financing allows insiders and others to obtain larger stock positions. If insiders were involved, this may explain the lacklustre purchases of stock by insiders over the past 6 months. One earlier message had concerns that management should have been purchasing stock at the low prices, if the firm held any future promise. If they were putting their money to finance operations, this may explain it. The knowledge that shares could be had at 18 cents (4 1/2 cents Agate) would preclude insiders buying at higher prices. Therefore, since they are not buying on the open market, there is no need to hold a basket. LVL

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