Since the substantial shareholder announcement of 14/5/14 I have spent some time trawling the internet and found the following:-
Jane Siebels of Green Cay/Siebels Asset lives in Palm Beach, Florida and has not as far as I can see invested in mining companies before.
Although sites says does a lot of research how would they find this small cap miner which is off the radar.
Apparently she funded her way through college etc by short-selling stocks and although found another website that states that her fund is prepared to short-sell stock in unethical companies what has allowed it to amass large shareholding in BTR without effect on share price.
Interestingly Form 603 was placed by Clayton UTZ who act for North Sound – This is only for 7 million shares at average of 19.15 cents, would presume that 2.5 million bought in 2013 at higher price with an overall average of about 22 cents.
Lloyd I Miller III lives in Naples, Florida about 30 minute drive from Palm Beach who according to my research has not invested outside of North America until he too found this small mining company. Cannot find anything to suggest that he is a short-seller.
Have checked through his Form 603 and average price paid about 22.5 cents or more (figures not to clear and 900,000 with no price shown)
Only on one day the infamous 14/2/14 have these two funds purchased at the same time (2.5 million out of 6.5 million traded due to Perkoa announcement)
I have then looked further into North Sound and looks like taken over in 2008 by Duff Investments, but again according to article on Reuters North Sound were an active short-seller in all markets they traded in. So checking Northsound’s employees have found that Tom McAuley appears to reside in Naples, Florida.
What can I say, but sometime the conspiracy theory (with or without facts) sometimes bears some resemblance to the truth.
We now have three entities, apparently all separate from each other (Connecticut, Florida and Bahamas/Cayman Islands) but in fact all connected through a small area in Florida. Would be interesting to know which country club!
Question now is what are they up to – all suggestions greatly appreciated (I have one or two possibilities but wait to hear from others first).
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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21 | 3341755 | 0.017 |
22 | 6372191 | 0.016 |
47 | 14626430 | 0.015 |
12 | 2522198 | 0.014 |
Price($) | Vol. | No. |
---|---|---|
0.019 | 4157194 | 10 |
0.020 | 12681947 | 23 |
0.021 | 6640730 | 11 |
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