EM2 1.82% 5.4¢ eagle mountain mining limited

Ann: Positive Assays Provide Development Options at Oracle Ridge, page-30

  1. 2,783 Posts.
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    'A $3 million loan is 10% of the company value. A couple more of those and he's up to 50-60% of the company'


    There is still one year to convert the loan into equity. If the share price doubles, 3 million will be 5% of the market cap. The MD wants to have a higher ownership, so the company won't be a hostile takeover and he would have a higher bargaining power IMO

    Looking at the changes in his position:
    He spent $300k converting his 20c options
    He spent $2,030,000 buying shares at 16.5c.

    He uses every opportunity to increase his holding. He may even start buying on market again?


    https://hotcopper.com.au/data/attachments/5305/5305759-bd89ab5dd706af41be81caa57ec64cd8.jpg


 
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