This was to be expected (and we were discussing it here some weeks ago)!

Someone sold his PP shares for a 3-bagger and still has the same amount of warrants to be converted into shares, that will be well in the money with an execise price of $ 0.25.

Nothing to worry about, IF this person has liquidated all PP shares now.

If someone else is starting this scenario, there will be more pressure on the price.

But I was really impressed, how strong the share price held up even with all the selling going on.

I hope people have used this opportunity for a nice entry point or for topping-up below $ 0.60 !

FANTOMAS

From NR:

Golden Hope Mines Limited ("Golden Hope" or the "Company") (TSX VENTURE:GNH)(PINK SHEETS:GOLHF) is pleased to announce that it has completed the first tranche (the "Tranche") of a non-brokered private placement, previously announced on April 29, 2010, of 10, 584, 276 units of the Company (each a "Unit") at a price of $0.18 per Unit for gross proceeds of $1,905,170.

Each Unit is comprised of one common share of the Company (each a "Common Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant is exercisable into one Common Share at a price of $0.25 per share for a period of 24 months.

Under applicable securities legislation and policies of the TSX Venture Exchange, the Common Shares and the Warrants are subject to a hold period expiring on September 7, 2010.