I think you are getting a bit confused here skynet.
The recent change in substantial holdings was in regards to GAS, not Michael Langford.
Michael holds 1.5 million options at 31.6c for the work he did with Minemark. So if Michael was to convert them now he would actually be at a loss (current share price at 31.6c).
The recent conversion of 5.5 million options was Sprott, convertible at 25c and being sold down to cash in on a 20% gain.
What Michael is suggesting from his linkedin posts, is that he will look to bring in cornerstone investors. It is my understanding he will work with Chinese funds to secure a position within Birimian. Something none of our management have bothered to do
BGS only has GAS at the moment, no other fund has taken a position within Birimian since our lithium acquisition (April 2016). You would think with such a great asset people would be lining up.
GAS also sold down 33% on the day the LOI was released to the public (Jan 4).
Not a good vote of confidence when your number 1 shareholder is dumping.....
BGS Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
