Re: options and money
in response to
by
posted on
Jan 02, 2013 02:15PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
The insiders may sell because they simply don't have the cash available to keep the shares. The options at $0.78 will cost the insiders $780,000 to exercise. If they have to take out a loan or borrow money to pay for the shares they might prefer to sell for a quick profit rather than hold the shares.