I have added along the way, and have recently added more today. The Chairman selling agree can be a red flag, but in this situation i dont believe it is. Why is because the company only wanted to raised $30m and demand from a particular strategic was fill or kill. A way to accommodate new shareholders as stated in the announcement was for Tim to sell some shares. "Chairman Tim Goyder has agreed to sell 10 million shares (~20% of his holding in Chalice) at A$1.05 per share to facilitate meaningful investment from several parties." i do believe this to be very true.
Also clear is the amount he has put into the company "Mr Goyder, a founding director of the Company has invested ~A$9 million of his own funds in Chalice over the course of ~15 years, without having sold any shares in that time." i would want those $$ back too, he still has 35m shares! More important he understands that the people coming onto the registry can be very meaningful to make Chalice go a lot higher.
And finally we await JD002 assay. This hole should turn up the interest volume if successful. Odds are in the favor it should. good luck all, this is a very rare opportunity.
CHN Price at posting:
$1.19 Sentiment: Buy Disclosure: Held
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