A list of facts:
- On November 18th, Fortuna Silver (FSM) (FVI.to) CEO Jorge Ganoza exercised 36,600 of his options priced at $4.03 and sold them all at prices between $5.20 and $5.30.
- On November 20th, Ganoza exercised 39,200 of his options priced at $4.03 and sold them all at prices between $5.20 and $5.22.
- On November 21st, Ganoza exercised 110,400 of his options priced at $4.03 and sold them all at prices between $5.21 and $5.33.
- On November 24th, Ganoza exercised 190,000 of his options priced at $4.03 and sold them all at prices between $5.22 and $5.53.
- On November 25th, Ganoza exercised 136,000 of his options priced at $4.03 and sold them all at prices between $5.20 and $5.51.
In total, in the space of one week FVI president and CEO Jorge Ganoza has exercised 512,200 options of his company, priced at $4.03 apiece, and sold them all into the market at an (IKN estimated) average price of $5.30. In other words, around $650,000 in pre-tax profit. What does Fortuna Silver’s CEO know about Fortuna Silver that we don’t?
PS: Another 20,500 sold November 26th and filed 27th, same story. Throw another $25k on the pile.