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Post by addictedtodrv on Oct 30, 2008 22:51:15 GMT -5
Some have posted about institutions and the big mmg volume and whether or not they were selling mmg before the halt. Some thought the institutions had to sell because they can't hold a halted stock, or else the institutions are forced to liquidate because of debt requirements. This doesn't tell us very much but I found this on Reuters web site % Shares Owned: 3.30% # of Holders: 3 Total Shares Held: 2,050,200 3 Mo. Net Change: -600,000 www.reuters.com/finance/stocks/institutionalHolders?symbol=MMG.V The question is - who are the institutions and how many shares did they have before? I thought it was much more than 2 million. Is this info from Reuters accurate? And maybe this question was answered already but were they forced to sell?
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Post by murph66 on Oct 30, 2008 23:01:16 GMT -5
It;'s not that they can't hold a stock that is halted, most big institutions would not be allowed to hold shares in a company that is delisted (not a publicly traded company at all). Much of the stock would be financed and they can't access the funds during the next few weeks while MacMillan Minerals gets started. Most of us smaller shareholders have purchased our shares with cash so we don't have that problem.
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Post by caveman on Oct 30, 2008 23:19:23 GMT -5
pinetree was issued 4 million shares around March 29/07 and their web site shows they have 3.5 million which is maybe not accurate any more then if only 2 million are left in total www.pinetreecapital.com/investees_name_current.aspbut i don't know who the other 2 instituts are.
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jrx
Full Member
Posts: 30
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Post by jrx on Oct 31, 2008 10:58:13 GMT -5
If the 3 institutions only have a combined 2 million shares left that is good no? That would mean they will only own 1 million shares in DRV. They saved Georges rear end at the MMG agm and then bailed? Good thing DRV has no institutions except for these ones that are being inherited.
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