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ric45

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14/06/24

17:23

Post #: 74322384
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Originally posted by Helios11 ↑

Cracking post.

Some background to FTF that may disgust many of you.

FTF organized & managed via Pear Tree Securities in NY and Canada, its NOT a 24hour process. A company, Wr1/LLI/PMT must apply so donors are available and then as part of Due Diligence the on sell/block trade MUST be assured, I am lead to believe its a least a 2-3week process and once started it cant be stopped.

Ergo companies like Argonaut may or may not be aware that a CR is happening.

I believe wr1 were ~1.40 when this process started and the purpose was due to an unknown FTF rule for Quebec residents under a Canadian Corporation act.

A raise at 1.40 for this cash component would mean the first rollover would have been from cash raised at 2.10 and ~1.30. I belive the plan had been for a strategic to come on board after Renard studies were completed to assist with the C$15mil Renard "Call" cost etc.

Currently the Disclosure notice is for X shares to forfill the Renard Option at 87c. Looks like the raise for the next two options is at 85c, so the first C$8mil is accounted for until 28 Feb 2025 when then 3rd option expires. The Option continuation is to fund C&M while wr1 completes due diligence.

Wr1 now has until 28 Feb 2025 to bring on Strategic for the C$15mil along with Wr1 being allowed to utilize 2023 FTF throughout the remainder of this year, and continue into 2025 with this FTF 12mil CAD ~ 30k of drilling.

But.....while i ranted about that issue, Wr1 in that 2 week period in which brokers would have been contacted.

Wr1 - 27/5 - 08/6 (full screen hot below)

Loyal from 10 -20 May - Biggest seller Argonaut

Pmt - May 10 - 25 - Not argonaut, why, because they were the broker for their CR along with UBS.

Last September, same thing. Samson Li leaked something on X but didn't understand FTF and just assumed 1.20. Along with UBS who dumped a few funds also dumped.

I have spent some time going over data last 12months. Unfortunately, there is a common theme, certain brokers dumping after being informed that a FTF is going to happen that wont be stopped once started.

Expand

Yes it's disgraceful the way argonaut have played this,
if one of us retail holders had dumped a million shares on market at this time asic would be investigating us for insider trading
Yet the big boys play this game time after time and asic does nothing
Only good thing for me is I have some cash ready to deploy and will be loading up when trading continues next week

WR1 Price at posting: 96.5¢ Sentiment: Buy Disclosure: Held
13 Upvote

0 Great analysis

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