From:
"inca kola news" <otto.rock1@gmail.com>
What's the rush, Michael?
Posted: 12 Apr 2009 01:35 PM PDT
When insiders sell stock in their company it's always worth noting. Sometimes those sales have decent explanations, sometimes they get your nose a-twitching. Sometimes they're small, sometimes they're big. But when one single insider sells stock not just in one company but in five companies all related to each other, it's one worth commenting out loud. Especially if that person happens to be the Chief Financial Officer in two of the five companies.
Over the last couple of weeks, Michael Kinley, CFO of Cardero Resources and International Tower Hill (ITH.v) has sold stock in CDY
Apr 09/09 |
Mar 23/09 |
Kinley, Michael Winslow |
Indirect Ownership |
Common Shares |
10 - Disposition in the public market |
-2,700 |
$3.170 |
Apr 09/09 |
Mar 31/09 |
Kinley, Michael Winslow |
Indirect Ownership |
Common Shares |
11 - Disposition carried out privately |
-5,000 |
$1.670 |
Apr 09/09 |
Mar 23/09 |
Kinley, Michael Winslow |
Indirect Ownership |
Common Shares |
11 - Disposition carried out privately |
-4,500 |
$3.020 |
He's sold stock in ITH
Apr 09/09 |
Mar 31/09 |
Kinley, Michael Winslow |
Indirect Ownership |
Common Shares |
11 - Disposition carried out privately |
-212,500 |
$0.210 |
Apr 01/09 |
Mar 23/09 |
Kinley, Michael Winslow |
Indirect Ownership |
Common Shares |
11 - Disposition carried out privately |
-8,000 |
$1.420 |
But he's also sold chunks of three other "Cardero Group" companies, namely Wealth Minerals (WML.v):
Apr 01/09 |
Mar 23/09 |
Kinley, Michael Winslow |
Indirect Ownership |
Common Shares |
11 - Disposition carried out privately |
-144,456 |
$0.400 |
Dorato Resources (DRI.v)
Apr 09/09 |
Mar 31/09 |
Kinley, Michael Winslow |
Indirect Ownership |
Common Shares |
11 - Disposition carried out privately |
-58,000 |
$0.630 |
And Trevali Resources (TV:cnq)
Apr 09/09 |
Mar 31/09 |
Kinley, Michael Winslow |
Indirect Ownership |
Common Shares |
11 - Disposition carried out privately |
-150,000 |
$0.100 |
Apr 01/09 |
Mar 23/09 |
Kinley, Michael Winslow |
Indirect Ownership |
Common Shares |
11 - Disposition carried out privately |
-5,000 |
$0.660 |
Now all this selling must have a decent reason, surely no? But all the same if the CFO, the dude who does the money chez Cardero, starts bailing heavily from the interrelated companies he holds (and after collecting $150,000 in fees for his services last year from ITH.v and CDY) don't you think the market deserves a word or two of reassurance, especially considering the delicate state of negotiations between CDY and the Chinese over their delayed iron ore deal? Inquiring minds and all that.........