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Love these prices, My christmas bonus is gonna buy me a large chunk.
Agreed. good post Peter k
Geez is that green I see.
It doesnt hurt EEGC at all. If nothing else it assures Hunt #3 will remain in Tasmania until EEGC is ready to drill.
HMM A LITTLE VOLUME I SEE....
Thanks for your concern Z
Did I miss a post?
Righty, I picked up more on Friday and also found the trading to be interesting in that I had a buy order in at the ask all day Thursday that never filled. Then Friday only filled 2 hours after I called my broke (etrade) and complained. Also all trades Thursday and Friday were at the ask of .024 except the very last trade which appeared to be a sell at .023. Take it how you want but its like someone wanted it to finish in the red for the week/day. JMO
Howard, unlike you I have little faith in MB but I do realize his back is against the wall and he is running out of time. Im betting my money that he pulls it out, not based on his character but because this is his last chance, IMO. I also believe the reward will be great if he does and would hate to miss out on that. I think the next week will be very interesting.
Just had the first sell in two days it was 30,000 shares around $700. Yeah Im sure that was HUNT
IMO Without registration of the shares and approval of the rights offering it would have been hard to tell the MRT that you had funds to engage in exploration. They have given the MRT the method of funding which will be complete 30 days or so after final SEC approval of the rights offering.
not much volume but all buys yesterday and so far today.
Gosh Ern and Z you guys have got me so scared Im gonna buy more EEGC, just placed small order for 39000 shares.
IMO these filings mean that insiders intend to sell a lot of shares and then in turn replace 1/2 of those shares at .07 through the rights offering, the silver lining to that cloud is that they are expecting a much higher pps or they wont be able to dump any shares.
Believe me its a guess. I just cant see them going through the rights offering filing without something very positive to move the share price up. Especially since we know they want to dump shares. Ive long ago decided Im gonna stick it out til the end or a nice profit. So Im waiting to see.
I will need MORE than a few shots Im afraid
One of two things for sure will happen:
a)EEGC PPS will be +.07 within 30 days of rights offering approval, (it has to for the insiders to make anything on shares.
b)Price stays sub .07 and MB has to pony up the 9 Mil as nobody is going to pay .07 when they can buy on market for less (in that case we will see if MB has the funds and is good to his word.
IMO this is regardless of the license situation
Agreed, they could of pulled it off much smoother without the insider selling. Just that being out there will make us more weary of the trading patterns. That may be a good thing.
How could you expect them to sell 165+ million shares and keep the pps above .0001 One million in sells would tank us considering the pps now. Understand they want the pps up so they can sell and then recoup shares through the rights offering. But a pps of .07 or below doesnt allow them to sell it takes a much higher pps for them to sell and then buy back in at .07.
Think about it a minute, if these insiders tried to dump even half that many shares the pps would crash and what would they have then. It appears to me they are hoping to sell their shares at a higher price than .07 and then exercise their rights offering and ending up with half the share count meanwhile they have cash in the pocket. The only way that makes sense is that they are expecting a higher pps (much higher) than .07 which would require major news and developments IMO
Good Post Howard.
Let em sell, means Im buying cheaper.
That would make a whole lot of us happy! Might break a few others too. I would be happy to see both happen, lol
That would even motivate MB more to fulfill the rights offering. Seems his shares are tied up he can still fullfill his portion of the offering therefore purchasing a lot of shares that otherwise if he tried to buy in the market it would drive the PPS way up.
Gee I hate to agree with Z but it is time to move on. Im here and staying and picked up more shares last week based on nothing more than the increased bashing from him and others. They have taken it up a few notches the last couple of weeks and Im willing to bet my $$$ theres a good reason for it.
Oh and Z I also agree we wont be drilling on September 30 but Im convinced its gonna happen. Thanks for all your imput
If you remember last fall as the drilling appeared close to beginning, the financial market crisis occurred. I found this yesterday and wonder if the MRT will have this sentiment in regards to our licensing:
http://www.mrt.tas.gov.au/portal/page?_pageid=35,831364&_dad=portal&_schema=PORTAL
Ernest There is a simple solution to your lease concerns. I have them too and Ive decided that I will not subscribe to my rights offering until I know the lease situation. Do your math, you have 30 days to subscribe from the date you receive notification, 30 Days from now would be October, well after the lease expiration. That is if you owned shares on 12-28-08, otherwise you shouldnt be bothered by the rights offering. JMO
Wshaw, Ive been in since last summer, im averaged in at .14 and have been on sidelines watching. Promise Im not a basher I want EEGC to succeed.
thanks wshaw14, I have been following this board a month or so and finally decided to jump in.
No, I havent called the company, however I know persons whom have done contract work with/for empire in various capacities and they were all excited about the possibilities of drilling last summer, however they seem to have lost confidence in Malcom Bendalls ability to pull this off. Im holding strong to my investment at an average of .14 a share. I almost sold a few days ago but hadnt was a few days short of a year so I didnt. I did find this News Release from MRT but not sure if it would apply to GSLM's lease but it does mention relaxing conditions on exploration licenses. One has to admit that the financial downturn occurred at a critical time during our drilling attempts.
I am not saying this MRT news release applys to EEGC but here it is
http://www.mrt.tas.gov.au/portal/page?_pageid=35,831364&_dad=portal&_schema=PORTAL
Well I am suspicious by character and the timing of the rights offering in conjunction the license expiring make me wonder if the rights offering is a way of raising cash just immediately before the license expires. Sorry but I have to wonder. If a majority of shareholders exercize their rights then a large amount of money would have been raised prior to the announcement of the license status by MRT without Malcom having to spend a dime. Then the company could use these funds for whatever. Ideally if the license status were to be announced by MRT prior to the rights offering being approved, that would make me feel better. Any idea when MRT will make announcement? Will it be before Oct 1?
Howard,
I own eegc and am also disappointed to see us in this situation. I am more concerned about the Lease and MRT than todays price. Since you seem to know whats going on, can you explain how why or how the lease will be extended through MRT as to me it looks pretty bleak.