Sorry to be so late in replying: been out in the bush looking for some late season VMS targets for another client. (Hint: don't go out the first day of moose season!)
Yes, three parties bought NAR @ $0.30, for a total of $450,000. The Press Release (http://www.nar-resources.com/nar-28sep98.html) states this occurred after the market melt-down, at a time when all junior mining stock became "no bid". This control block, held by Tandem Resources, must have been put on the block under duress, since, even a field geologist like me knows, it's not time to sell when there are no bidders. Luckily these people came up to bat, and got the stock at a discount.......nobody else was interested!
To buy quality when prices are low I thought one of the axioms of the Market; these people obviously have the confidence in Falconbridge's drilling, the Falco people on the ground in Zimbabwe and the $$$ supplied by Leonard Taylor's NAR Resources.
Happy Hunting! |
