Not only did the Cormark trades happen literally hours before the 43101 was released and eventually netted someone a gain on the short side of over $1.3 million it also clears the way to cross them back after the 30 day grace period which lowers the cost in a long position and juices the tax fund which just so happens to coincide with the PP shares hitting the market.

Why naked short when you know full well you're hedged either way either with fresh paper coming to market or with close to 100 million shares in inventory. Considering Ned always takes 30% of every financing to retain 30% of the company, those 3.7 million shares look awfully suspicious considering 10.7 million shares start trading on the July 17. Despite what management says, Goodman's an insider and someone is feeding him before the rest of us are even at the table.

San Gold Corp. has closed its private placement offering with a syndicate of agents led by Primary Capital Inc. and including Scotiabank, Dundee Securities Ltd. and Stonecap Securities Inc. of common shares of the company issued as flow-through shares within the meaning of the Income Tax Act (Canada). At the closing, the company issued 10,715,000 flow-through shares (which included 3,565,000 flow-through shares that were sold pursuant to an overallotment option) at a price of $2.10 per flow-through share for total gross proceeds to the company of $22,501,500.