Latest options deal looks bad, Steve.
After the market had closed for the weekend, the following item was released. Looks to me like it should have read gift rather than option. Priced at .50 cents, that's .33 cents under the market close - a 40% discount amounting to $77,000 and unlike the rest of us, the buying public, they won't have to lay out any cash. When the time is right, they can sell short and cover from the treasury.
There already are 1,180,000 options outstanding at .35 good to at least January 16th, 2000. There are also another 1,930,000 warrants outstanding at .70 good to April 15th, this year.
When I see that many bullets going into the gun, Steve, I get very nervous. Looks like a Turkey Shoot brewing and being a cash-on-the-barrelhead shareholder, I feel like the turkey. Think maybe I'll cool back on this one... go along for the ride and sell into strength.
Good news is we can now expect a drilling date soon.
B....
___________________________________________________________________
Energold options granted
Energold Mining Ltd EGD
Shares issued 14,340,394 Jan 14 close $0.85
Fri 15 Jan 99 Options Granted
On Dec. 14, 1998, the company granted director and employee stock options
on 235,000 shares at 50 cents expiring Dec. 14, 2003.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
____________________________________________________________________
|
