mike the man, page-26

The only short term postive I can find in this was considering the overhang from the Rights (you could ring Argonaut and probably buy 3.4mil shares from them at $1.10) that there is demand for another 4mil shares albeit at $1.03 rather than $1.10 - seems like Alkane were a keener seller than Argonaut.

I hope Tils is right and its another cornerstone investor or even more positive would be Regent loading up again taking their stake to 10mil shares avg entry $1.072 - I have just convinced myself its Regent as BCI is so tightly held to buy 10 mils shares on market could push the stock nearly to $2. And the way Regent wanted $6mil shares so badly Mike had to agree to issue more shares if they did not get their fill.


I am sure Argonaut have been a buyer the last few weeks to try and get rid of thir 3.4mil shares at $1.10 or over and have been a seller over that price - albeit flogging them off market to their clients.

All this is noise in the short term though entertaining - whoever got the $4mil shares at $1.03 has struck gold in my view. I am sure Alkanes phone will be ringing of the hook with our friends in the north wanting to buy the rest of their stake at the same price - then Alkane may realise how short sighted the sale was.