I owned ORE (now AKE) going back to the Richard Seville days. I remember very well the over-promising on delivery of projects and the failure to deliver. There were a lot of sour investors back then, I personally began to distrust the reports under his management. Short-sellers got in hard at that time. I see from his declaration of holdings that he is divesting all of his shares, getting something over $30 million. He is in his sixties now, probably thinking about an early retirement and his profits from this will see him nicely into his senior years. I would do the same if I were him, none of us live forever so why not enjoy what that money can buy? I wouldn't read too much into his sale of his holding.
AKE Price at posting:
$13.89 Sentiment: Hold Disclosure: Held
