Not so quick….
For those shareholders of El Tigre Silver (ELS) congratulations on a great week as your shares went from $0.15 to $0.39 on absolutely no news.
Trading volume for the week
Monday volume 453,710
Tuesday volume 92,000
Wednesday volume 2,480,391
Thursday volume 273,899
Friday volume 763,260
Rarely would ELS trade more that 100,000 shares and on some days there is no trading at all.
Followers of our services know that one of major criteria Dudley Pierce Baker follows religiously is insider trading.
On Monday, July 28, Dudley saw a large insider buy on El Tigre Silver reported by W. Anderson for his purchases of 500,000 shares from July 24 to July 28 at $0.15
On July 29, S.R. Ross (President and CEO) reported a purchase of 8,000 shares at $0.15 on that day.
On Wednesday the 30th, the company in a press release saying basically that was no material change and they knew of no reason for the unusual activity in the companies shares which trade on the Toronto Venture Exchange under the symbol, ELS.
More insider buying was reported on Friday, August 1st for W. Anderson and Hodgson, R. now at prices of $0.26 to $0.28.
On Friday, August 1st the shares closed at the high for the day at $0.39
What gives us the reason to question the large move in the company’s shares from $0.15 to $0.39 this week and the company said there is no news. BUT they, the insiders are buying.
What the hell is going on? Seems like the wild, wild west to me with the cowboys driving up the price, but in anticipation of what?
Following the insider trading activity on any company can be very insightful and rewarding for investors. Stay tuned.
In closing, we have never owned shares in ELS, we do not know the management nor do we have an axe to grind.
Dudley Pierce Baker