Ooooh, just a slight suspicion, ya knowz.
Let’s check on the recent action over at Mansfield Minerals (MDR.v), a company with assets in South America including its main one, Lindero, a gold heap leach project with somewhere between 1.5m and 2m oz Au to dig up, it seems. Here’s the three month chart for MDR….
….and we can see that on September 18th the stock moved up in fine style on heavy volumes. This because MDR released this PR
a couple of hours after the opening bell that gave the world warning that they got gold, they got a 43-101 pre-feas study on the way in 4q09, they gotta be loved by all.
So the stock shot up. Fair enough, but it also shot up just (and I mean just)
after company President Gordon Leask helped himself to 250,000 shares at $0.57, scant minutes before the big move was made
. and the stock finished at 83c for the day (today it’s 85c, FWIW
Mansfield Minerals Inc. (MDR)
| As of September 28th, 2009
| Filing Date
|| Transaction Date
|| Insider Name
|| Ownership Type
|| Nature of transaction
|| # or value acquired or disposed of
|| Unit Price
| Sep 28/09
|| Sep 18/09
|| Leask, Gordon Patrick
|| Direct Ownership
|| Common Shares
|| 10 – Acquisition in the public market
If we check out the one minute chart for MDR in the period….
….we can see just how amazingly, amazingly, spookily lucky Gordy’s timing really was. Now for sure these 1min charts are never easy to read, but if you click it to enlarge you’ll see how it worked.
Let’s hope management at MDR is as good at adding net worth to the company as they are about adding it to their own back pockets. DYODD.