Correct.
Management keep gifting themselves shares because the inevitable 1 for 20 or 1 for 50 restructuring is just around the corner. This minimizes their dilution but not the retail investors.
From another poster - FMG already has leases in place and exploration budget of $90 million over 3 years (in **on). Where the hell will AMD get that kind of money to fund their exploration? Will be another 3 billion shares on issue and the cycle repeats.
The recent seller was Ropa Investments. He is literally the guy AMD bought the property from. Shows how much confidence he has in the project.
Ann: Issue of Securities, page-6
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Mkt cap ! $36.88M | |||
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