ATW Gold (ATW.v): Andrew Bowering joins our role call of shame
http://incakolanews.blogspot.com/2010/02/atw-gold-atwv-andrew-bowering-joins-our.html
We already know about the frontrunning scamsters at ATW Gold (ATW.v) named Luke Norman and Graham Harris. We also know about the impunity of the bullshit pumpers like Peter Grandich who led their flocks, piedpiper-like, over the abyss of this scam but now simply whistle loudly and pretend they didn't issue such awful advice on this stock.
So it's time to wheel out the next member of the ATW band of crooks, insider Andrew Bowering. Here are all the filings for Bowering dated Jan 1st 2008 onwards.
Insider name: Bowering, Andrew William
code Trans Date File Date nature of transaction amount price Shares held
1323207 2008-11-19 2008-11-25 10 - Acquisition or disposition in the public market -20,000 0.32 2,304,958
1323213 24/11/2008 25/11/2008 10 - Acquisition or disposition in the public market -15,000 0.36 2,289,958
1323219 24/11/2008 25/11/2008 10 - Acquisition or disposition in the public market -12,500 0.38 2,277,458
1323221 24/11/2008 25/11/2008 10 - Acquisition or disposition in the public market -10,000 0.37 2,267,458
1323224 24/11/2008 25/11/2008 10 - Acquisition or disposition in the public market -10,000 0.35 2,257,458
1323246 24/11/2008 25/11/2008 10 - Acquisition or disposition in the public market -5,000 0.36 2,252,458
1323226 25/11/2008 25/11/2008 10 - Acquisition or disposition in the public market -12,500 0.375 2,239,958
1323245 25/11/2008 25/11/2008 10 - Acquisition or disposition in the public market -5,000 0.37 2,234,958
1574808 23/06/2009 09/02/2010 10 - Acquisition or disposition in the public market -40,000 0.75 2,194,958
1473403 14/07/2009 27/08/2009 10 - Acquisition or disposition in the public market -30,000 0.64 2,164,958
1574802 15/07/2009 09/02/2010 47 - Acquisition or disposition by gift -100,000
2,064,958
1473406 20/07/2009 27/08/2009 47 - Acquisition or disposition by gift -300,000
1,764,958
1574805 20/07/2009 09/02/2010 10 - Acquisition or disposition in the public market -5,000 0.6 1,759,958
1574798 11/08/2009 09/02/2010 47 - Acquisition or disposition by gift -50,000
1,709,958
1473408 19/08/2009 27/08/2009 10 - Acquisition or disposition in the public market -20,000 0.54 1,689,958
1574793 19/08/2009 09/02/2010 47 - Acquisition or disposition by gift -100,000
1,589,958
1473409 26/08/2009 27/08/2009 10 - Acquisition or disposition in the public market -20,000 0.56 1,569,958
1574791 27/08/2009 09/02/2010 10 - Acquisition or disposition in the public market -100,000 0.54 1,469,958
1574786 12/11/2009 09/02/2010 47 - Acquisition or disposition by gift -200,000
1,269,958
1553593 05/01/2010 08/01/2010 10 - Acquisition or disposition in the public market -20,000 0.2 1,249,958
1578334 09/02/2010 16/02/2010 10 - Acquisition or disposition in the public market -29,000 0.16 1,220,958
1578335 09/02/2010 16/02/2010 10 - Acquisition or disposition in the public market -152,500 0.16 1,068,458
1578336 09/02/2010 16/02/2010 10 - Acquisition or disposition in the public market -18,500 0.165 1,049,958
At first he sells some 70,000 shares in small lots at end 2008...pretty normal. But then check out the trades highlighted in red. [Note: I couldn't keep the red so I separated out these ones via inserting a blank line.] Starting late June (when the news of the company-killing problems at their Aussie mine must have started filtering through to board level) Bowering starts disposing stock bigtime. Between June and August 2009, and just before the date when ATW.v went public with its enormous production problems and killed that immediately stock price, Bowering got rid of 725,000 shares. Also, note those lines marked "disposition by gift", WTF is all that about? A gift to whom? Right in the middle of heavy inside selling, a capitalist pig trying to bail as much as he can out of a company suddenly goes all philanthropic on us and gives shares away? Jeeesh dude, you must think we were born yesterday! Mr. Bowering, would you care to voluntarily disclose exactly who was the beneficiary of this largesse?
What's even more impressive is that bar two 20,000 share trades, every single transaction was late filed by Bowering. In fact, those two small but correctly filed trades speak their own volumes, as it shows Bowering was perfectly aware of the rules and what he should have done with his filings. But no, he simply chose to ignore the rules and do what the hell he wanted on the vast bulk of the selling, else draw attention to his massive share disposal that might put the stock under pressure.
Exactly the same tactics used by the other scumball insider sellers at ATW.v, Luke Norman and Graham Harris. Illegal, frontrunning sales made due to knowledge of the imminent death of the company and trades that were not disclosed to the public until after the fact. And surprise surprise, a quick look at Andrew Bowering's inside filings connects him to the company "Tribune" that's also knee-deep with the scamsters Norman and Harris as explained on Sunday.
With crud like these people at managerial level retail investors have no chance of making winning trades. Where is the OSC and why isn't it crawling all over on these scandalous operators?
