Loading ...I’m glad I wasn’t sitting on it lately. Its looks like management did the same thing that happened with MP Materials. The old Molycorp. And its been taking a long time to recover afterward.
Part: Gatos Silver, yesterday announced that it has commenced the roadshow for a proposed public offering to offer 6,500,000 shares of common stock and for certain selling stockholders to offer 1,820,000 shares of common stock. In addition,
Gatos Silver and “the selling stockholders” intend to grant the underwriters a 30-day option to purchase up to 975,000 and 273,000 additional shares of common stock, respectively, at the public offering price, less underwriting discounts and commissions. Gatos Silver will not receive any proceeds??? from the sale of common stock by the >>selling stockholders.<< The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
The purpose of Electrum’s participation as a selling stockholder in the offering is to diversify the Company’s stockholder base and increase the Company’s public float.
Comment: What the hell are they round about talking about?? Insiders are selling? Did they jaw bone it down to buy back shares? Smells fishy. Who cares? When Silver spot starts rebounding it will probably take off again for its final bottom happens.
https://finance.yahoo.com/news/gatos-silver-announces-launch-proposed-204800012.html