Re: Does anyone know what the insider's average is for their holdings?
in response to
by
posted on
Jan 18, 2013 04:08PM
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%)
You are right to think that this is a typical basher question.
I believe the answer has been posted before and is the range of 30 or 40 cents. EE might even be less as he got a whack of shares at a very low price when he came on board with CUU in 2008.
Yes, he stands to make a lot of money if he sells at a price not much higher than today's. But he stands to make a heck of a lot more money if he holds out for a much, much higher price than what we are currently ranging. The only way to know for sure is to call up EE himself and ask him what he is holding out for. Meanwhile he is pumping lots more money into CUU and eroding his enviable book value.
The logic being that the insiders are not going to leave any money on the table if they can help it. The supporting logic is that, EE could have had the BFS crap wrapped up ages ago and dumped Schaft Creek for a quicky profit then. He didn't, so we assume he has bigger gains in mind. On top of this, EE, Elmer and other have positions with other mining companies and if they sell cheap in a cut and run move, it will be suicide for any of their other current and future endevours.