We’ve already noted how in late August and early September Casey Research pumped Bayfield Ventures (BYV.v) first to its “A list” of higher paying subscribers and then to its Proles List of normal paying subbers and while doing that, even had the gall to say to the high-paying list that they’d be reco’ing the stock to the other-bigger list in a few days time (and if that isn’t blatant frontrunning I’d like to know what is, ladies and gentlemen of the BCSC/OSC).
But what we haven’t tracked is the share price action in the stock since then, so here’s the chart.
Oh look! Bayfield Ventures has slumped back to the low 80’s already! What a shocker!
On the back of what looked and was promo’d as some good, mine-making slamdunk type holes, BYV zoomed into the stratosphere in early September. Then, amazingly, two things happened:
1) BYV.v ran a $5m bought deal placement at $1.40 per flow-through share (note: FT shares can be priced slightly higher thanks to tax break rules in Canada). My stars, wasn’t that timed well!
2) The insiders decided it was a great time to start selling! Yes, amazingly enough the NRs that came out in machine-gun fashion in September was über bullish and the pumped-up bullshit coming from Casey&Co was all about “slam dunk takeovers” and such, but when push came to shove the people that REALLY know the significance of those early holes, i.e. the company CEO and the company exploration manager, were quick to want to bail out. Here’s what insiders of BYV.v have done since the Casey-plus-drillhole hype hit the screens.
Jim Pettit Chairman & CEO
1655899 2010-06-14 2010-06-16 Direct Ownership : 51 – Exercise of options +177,000 0.1200 277,000
1703457 2010-09-07 2010-09-17 Direct Ownership : 10 – Acquisition or disposition in the public market -20,000 1.1000 257,000
1703458 2010-09-08 2010-09-17 Direct Ownership : 10 – Acquisition or disposition in the public market -20,000 1.2100 237,000
1703459 2010-09-08 2010-09-17 Direct Ownership : 54 – Exercise of warrants +40,000 0.3000 277,000
1703460 2010-09-09 2010-09-17 Direct Ownership : 10 – Acquisition or disposition in the public market -30,000 1.1000 247,000
1703461 2010-09-10 2010-09-17 Direct Ownership : 10 – Acquisition or disposition in the public market -20,000 1.1800 227,000
1703462 2010-09-10 2010-09-17 Direct Ownership : 51 – Exercise of options +75,000 0.1200 302,000
1703466 2010-09-13 2010-09-17 Direct Ownership : 10 – Acquisition or disposition in the public market -15,000 1.3000 287,000
1703471 2010-09-15 2010-09-17 Direct Ownership : 10 – Acquisition or disposition in the public market -8,000 1.1400 279,000
1707288 2010-09-21 2010-09-24 Direct Ownership : 51 – Exercise of options +104,900 0.1200 383,900
1707291 2010-09-21 2010-09-24 Direct Ownership : 51 – Exercise of options +15,401 0.1250 399,301
1707293 2010-09-21 2010-09-24 Direct Ownership : 51 – Exercise of options +13,000 0.2300 412,301
1719620 2010-10-12 2010-10-15 Direct Ownership : 11 – Acquisition or disposition carried out privately -10,000 1.0300 402,301
123,000 sold for $141,720
Warrants cost $12,000 to exercise
Options cost = $26,503 to make whole
Pre-tax cash profit: $103,217
Change in full shares position since August: +300,000
Robert Marvin, Exploration Manager
1713344 2010-09-29 2010-10-05 Direct Ownership : 51 – Exercise of options +100,000 0.4300 100,000
1713347 2010-09-29 2010-10-07 Direct Ownership : 10 – Acquisition or disposition in the public market -45,000 1.0500 55,000
1725305 2010-10-21 2010-10-27 Direct Ownership : 10 – Acquisition or disposition in the public market -55,000 0.9650 0
1725306 2010-10-26 2010-10-27 Direct Ownership : 10 – Acquisition or disposition in the public market +25,000 0.8000 25,000
$43,000 to exercise
Sales $100,325
Buyback cost $20,000
Pre-tax cash profit: $37,325
Nancy Ackerfeldt, Corp Sec
1699675 2010-09-07 2010-09-10 Direct Ownership : 51 – Exercise of options +45,000 0.1200 100,000
1699678 2010-09-07 2010-09-10 Direct Ownership : 10 – Acquisition or disposition in the public market -10,000 1.1600 90,000
Exercise cost $5,400
Sales $11,600
Pre-tax cash profit: $6,200
Donald Huston, President
1703415 2010-09-14 2010-09-17 Direct Ownership : 51 – Exercise of options +75,000 0.1200 217,500
1703417 2010-09-14 2010-09-17 Direct Ownership : 51 – Exercise of options +15,500 0.1200 233,000
1703419 2010-09-14 2010-09-17 Direct Ownership : 51 – Exercise of options +44,000 0.1200 277,000
1703421 2010-09-14 2010-09-17 Direct Ownership : 51 – Exercise of options +20,000 0.1200 297,000
1703424 2010-09-14 2010-09-17 Direct Ownership : 51 – Exercise of options +25,000 0.1200 322,000
1703425 2010-09-14 2010-09-17 Direct Ownership : 51 – Exercise of options +15,000 0.1250 337,000
1703429 2010-09-14 2010-09-17 Direct Ownership : 51 – Exercise of options +13,000 0.2300 350,000
1703432 2010-09-14 2010-09-17 Direct Ownership : 10 – Acquisition or disposition in the public market -30,000 1.2700 320,000
1707155 2010-09-17 2010-09-24 Direct Ownership : 10 – Acquisition or disposition in the public market -20,000 1.2100 300,000
Options exercise cost $23,355
Sales brought in $62,300
Pre-tax cash profit: $38,945
Change in full shares position since August: +157,500
Donald Myers, Director
1699690 2010-09-08 2010-09-10 Direct Ownership : 51 – Exercise of options +118,000 0.1200 168,731
1699692 2010-09-08 2010-09-10 Direct Ownership : 10 – Acquisition or disposition in the public market -35,000 1.1770 133,731
1699695 2010-09-09 2010-09-10 Direct Ownership : 10 – Acquisition or disposition in the public market -37,500 1.0833 96,231
1699696 2010-09-10 2010-09-10 Direct Ownership : 10 – Acquisition or disposition in the public market -7,500 1.1600 88,731
Options exercise $14.600
Sales $90,518
Pre-tax cash profit: $75,918
3) The price slumps back post-bullshit hype closing yesterday at 82c, which is (for example) 32.3% lower than the point where company CEO Pettit sold 20,000 of his shares during his serial selling spree. Funny dat too, innit?
Again, if it were just one seller you’d be inclined to give benefit to doubt. But five insiders, all selling the same time on the same hyped-up pump from the scamsters at Casey Research, brought in especially to create the necessary liquidity? Gimme a break here, willyaz?