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North American Nickel - The Largest Meteor Impact Crater
I own a good position in this stock.
They are exploring the Largest & Oldest Impact Crater on Earth and have discovered Nickel, Copper, Colbalt, Gold.
June 2012 Earth's Oldest Impact Crater Found in Greenland
http://www.newscientist.com/article/dn21996-earths-oldest-impact-crater-found-in-greenland.html
Get this the PP price is 0.17 and the market is ~ 0.13 ?
Is trade up ?
djk
Sounds like they are offering shares and warrants to 'funds' related to insiders. That is always a red flag. Serious investigating should be done on this one, it doesn't sound right.
Good point, however if the market won't fund a junior explorer then the insiders should step up and put some of their own cash into the company.
I see it as a acknowldgement & commitment.
Yes sure seems like they'll make alot of money down the line, but they carry the huge risk.
I my DD shows the funds & insiders are paying 0.17/share and the market is 0.12-0.14 ???
Sadly many times penny stocks issue insiders 'funds' shares the company is often full of crap. This is why I say serious investigating is needed here. If insiders want to buy shares, why not just buy the dang shares on the market and help your current shareholders. To me this says "I don't care about our current shareholders. I just want the price to go up so my 'fund' can buy cheap and then dump."
Read the PR again. They are getting a share and a half at .17. It breaks down to about .11/share with a whole warrant at .21/share. The good news is the funds will have to hold for 4 months, but this gives them time to put out a bunch of PR's to make the company sound good so they can get the price up and dump the shares later.
I've watched too many scams over the years so I'm always skeptical when I see deals like this. Hopefully the company is legit here. I'd hate to see this just be another insider enrichment scheme. I don't research to many Canada stocks; but I think you should dig as deep as you can.
