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All I can figure is that they suckered in thousands of investors for two years with hyped news letters pumping the alleged riches of their "Flagship Singida" property. How did that work out? I don't like it but, I think confidence has been lost and the chickens have come home to roost, these are the investors dumping their shares.
There is quite a bit of imformation in LVCA's blog section for August 2011 that has not been PR'd. I really like what they are doing in the Handeni District, they currently have as much secured property as Canaco (CAN.V), right next door (see map). Take a look at what Canaco has done since mid 2010 with their discoveries.
http://blog.lakevictoriaminingcompany.com/2011/08/
Buy / Sell ratio improving.
Thank you also 49'r for those positive words, still holding...
It looks like maybe the party (s) dumping at less than .12 might be done, lets hope so anyways...
G & S,
Good point,I agree, it sounds like a bad move. They were also touting the fact that they walked away with $1,200,000 with Ottterburn's termination of agreement, not seemingly concerned with losing 10 times that in Market Value! After speaking for about an hour with President/CEO David Kalenuik, I got the impression that this management panics for whatever reason when low on cash. He stated that this was the reason that they did that last PP @ $.15, they needed cash basically overnite.
AAEM,
I have, I've posted on Yahoo, Google and Stockhouse message boards with barely any responses. As I've said before, this stock has a bad wrap due to its earlier pump and dump schemes. It would appear the chickens have come home to roost and I'm sorry to say, it is going to take some extraordinary corporate management abilities or a rich discovery to overcome the past.
That is my question, WHO is doing all of this selling and why ?
Well according to this site it is not management. The only deal they made close to this price is the last PP, could they be selling a portion of their 20,000,000 $.15 shares for $.115 ? Correct me if I'm wrong but, the only others that have cheap shares are the early investors.
http://www.secform4.com/insider-trading/1402062.htm
This is a copy of the nasty gramm I sent to David Kalenuik @ LVCA last Teusday the 26th.
David,
"So what's the plan, to let your share price drop to $.01 with no announcements, press releases or maybe a letter to the shareholders to help calm the market? This is pretty irresponsible behavior towards your core dedicated shareholders, What gives? Are you going to file bankruptcy or what, how about an explanation!"
On the 28th a letter to the shareholders was released and it showed up on their website, Ameritrade, Yahoo Finance and Google Finance(anywhere else?)so, they are capable of more thorough dissemination of news. Maybe they are finally starting to listen and do the right thing for the shareholders, we'll see...
I probably should not but, I agree and am staying all in. thanks for the vote of confidence 49'r.
Well Nebula, here's that increase in volume you've been waiting for...
You know, it bugs the shit out of me that I do all this DD AND back it up but, get NO responses or even a discussion, what the fuck, you must all be MM's or something, what the fuck else should I think ? I'm starting to think this company is a OOMPLETE scam and your in on it ...... prove me wrong, PLEASE.
That 20,000,000 share dilution showed up today, or yesterday, I did'nt look. That would explain the sell off, not Otterburn terminating option agreement...
They released what looks to be some BS on their web site today, what do you think ?
This is not the first time Otterburn Ventures has reneged on an option agreement.
Just last September :
Otterburn Ventures Terminates Option Agreement
Otterburn Ventures Inc. is an exploration-stage company. The Company is a junior mineral exploration company engaged in the acquisition and exploration of strategic mineral properties. The Company is primarily engaged in the exploration for, and the development of, mineral properties with silver, gold, zinc, lead, antimony, manganese, arsenic, mercury and other mineral. On September 29, 2010, the Company decided to terminate the Suskwa option agreement and returned the claims to the Optionor.
And in October 2008 :
Otterburn Terminates Option Agreement
VANCOUVER, BRITISH COLUMBIA - (Marketwire - Oct. 24, 2008) - Otterburn Ventures Inc. (the "Company") (CNQ:OTB) announces the termination of an option agreement (the "Option Agreement") with Rubicon Minerals Corp. (the "Optionor") dated February 5, 2007, which granted the Company the right to acquire a 100% interest in the Bathurst Mine Group claims, located in the Red Lake Mining Division, Ontario. Management decided to terminate the Option Agreement as it intends to focus on the exploration and development of the Company's Suskwa Mineral Claims, located in the Omineca Mining Division, British Columbia. To date the Company has made $21,000 in cash payments and issued 50,000 common shares of the Company to the Optionor. As a condition to terminate the Option Agreement, the Company will pay the Optionor $6,000.
Any comments?
Your right G&S, what are our rights as share holders, I'm sick of giving LVCA the benefit of the doubt every time there is bad news, when they are all taking home nice salaries at stock holders expense, what can we do, besides take it in the ass?
I don't see what you are looking at?
Try this link, I can get to the page with the NI reports but, can open everything but, the NI reports. Hmmm.
http://www.sedar.com./DisplayCompanyDocuments.do?lang=EN&issuerNo=00030548
G&S, I found this article related to "144 stock resrictions" Why are they restricted and how do I know if mine are or not? I have had my shares with Ameritrade since January 2011.
http://www.svbizlaw.com/restricted.stock.htm
This latest news release says mid July, we've all heard that before.
http://www.marketwatch.com/story/lake-victoria-retained-to-complete-3270000-in-exploration-services-for-otterburn-ventures-inc-2011-06-28?reflink=MW_news_stmp
Yes I agree, very suspicious.
So I guess the MM's don't want to play @ .255, I think its about time for them to create another sucker rally, don't you Nebula? Come on boys or maybe wait until the NI reports in a couple of weeks...they'll make a killing. Have a nice 4th.
Thanks for the link, I'll take a look and thanks for the answer to my question. As far as "removal of restriction", I'm not sure what you mean but, I don't think I did. I've been a shareholder since January 2011 and am averaged in at $.29 so, I am sleeping at night so far.
Very informative post DV. I had to read it a few times to get your meanings but, I think I understand what you are saying. The important thing here is that management are motivated to not exit until a higher PPS to make all their efforts worth while. What do you think it is going to take for a sustained increase in PPS ? Could you please post a link for that SEC filing you referenced. Thanks again.
Absolutely but, if they don't follow up regularly after that to keep the volume up, it will be sold down again by the MM's.
Well all that aside, Otterburn Ventures is trading up, here is some news:
http://www.cnq.ca/Storage/1365/124275_NR_Otterburn_Engages_Investor_Relations_Consultant_FINAL.pdf
Nebula, I think your probably the one mascarading...Just say'n.
Two blocks of 160k bought at 10:00am, did not move the PPS at all, smells of manipulation to me...
With all this selling going on with zero volume in between, I can only think that this last up trend was nothing but a coordinated sucker rally by the Maggot Market Makers. Any thoughts? Anyone?
I would love to be wrong...
I believe I was the last buy with 7000 shares on the 23rd. I thought I'd throw that out there.
Nebula, you could shorten your respones even further by leaving off the ...
IMO that is just some more games the MM's play, the only way to get the actual data is off of your trading account page ie: TD Ameritrade, Scottrade etc.
There sure are a lot of large blocks being sold in the last couple of days...
According to this Canadian Quote site, Canaccord is buying OTB, that is a pretty good sign Otterburn is legitimate.
http://www.cnq.ca/Page.asp?PageID=2013&AA_RecordID=230
Nothing but MM's playing their silly games today...
http://ih.advfn.com/p.php?pid=trades&symbol=LVCA
WHERE IS EVERYBODY, HELLO!
Good article on investing in Exploration Stocks. How does LVCA rate...
http://www.minyanville.com/businessmarkets/articles/commodities-commodity-secotr-silver-silver-price/5/13/2011/id/34510?camp=syndication&medium=portals&from=yahoo
It looks like Otterburn got a pretty substantial bump in their PPS with the news on the 29th, should'nt LVCA at least be keeping up?
Who's PPS should go up more on a deal like this, the property owner (LVCA)or the buyer/developer (OTB), anyone?
Otterburn Ventures Symbol is CNSX:OTB, not to be confused with Otterburn Resouces CVE:OBN. It is hard to find a quote, this link seems to have accurate info.
http://www.cnq.ca/Page.asp?PageID=2013&AA_RecordID=230
Quote from Otterburns website:
http://www.otterburnventures.com/s/NewsReleases.asp?ReportID=456657
About Otterburn Ventures Inc.
Otterburn Ventures Inc. (CNSX:OTB) is a Canadian-based exploration company in the business of exploring and developing precious metal deposits. The Company's unique management and technical strengths are applied to identify, qualify and develop its portfolio of four gold projects in the famous gold-producing Lake Victoria Greenstone Belt in Tanzania, East Africa. Otterburn's objectives are to create another gold mine in this region and maximize value on behalf of its shareholders.