look, as you know I am not shy to call the mgt and the board out when I see fit. but there is very little they could do when someone is dumping this kind of volume. same if IG needs to sell large parcel. sometime his broker may manage to sell the shares as block but sometime they may run out of time and they need to sell on the open market. I don't think IG is doing anything good for ALK by not taking more active role, but at same time, I don't think he would just go on and sell massive block of shares on the open market without first trying to sell them as a block.
the only thing Nic and the board could have done or do better is they should be more proactive and monitor for such activity. if they notice there is a large seller they should prepare a strategy how to soften the blow. for example... from what I have seen in the past.. ALK could have released a statement and explain who is selling and perhaps why - if possible, if they worked out who is selling and got in touch to find out why. Nic could have released that video bit earlier but to be fair he did good job with how he explained what they are up to. the video removed one possible scenario that an insider is selling due to operational issues - this is a big one. And the board could have acted bit sooner with buying few shares - but still good job on what they did.
Also, the last two would only apply if ALK had prior knowledge of the selling - otherwise I see no issue how this is being handled and the timing when Nic released the video and when few of them bought few shares.
Where ALK went wrong is when they did not spend about $3-$4m extra on exploration over the last 2.5 years in order to narrow down on another orebody at NMPP. This is what is hurting us now in really big way. The impact on the balance sheet would have been minimal. And the lack of any other exploration project outside Tomie and NMPP - basically no growth path while NMPP is a 7-10 year timeline at best. And this is what allowed for the SP to fall lot lower than other gold stocks.
Then again, there is no guarantee they would have find anything and this needs to be taken in consideration against the lack of trying.
Anyway - POG is giving another go at $2500usd.... let's see what NFP and Unemployment Rate print in the US. Everyone is tipping Unemployment rate to stay at 4.1% while I think it may surprise and print 4.2%.
have a great weekend... and everyone else... even Wasa... and I mean it.
ALK Price at posting:
41.5¢ Sentiment: Hold Disclosure: Held
(20min delay)