Friday, July 17, 2015

Insider trades

Oct 28th - update

If we assume the TMX insider report is related to Front Street flow through, that would leave 113,524 shares to go.

However, the October 15th, 2015  short position for PGD increased by a very coincidental 113,500 shares. This equates very well to a close out position in the stock

Since Oct 23rd, there have been  no more reports and if this short get's covered inside with the remaining amount of shares...that would leave a total of 24 shares to sell.
There has also been a robot periodically selling 1 share at a time.  This might be related to this remaining oddlot as well.

This current theory stands until we get another tmx insider report and it has an amount that nixes this.
 
New Theory --
Dec 31st, 2013 - Front Street Flow-through 2013 II LP has 1.23 million Peregrine Diamond flow through shares.
June 31st, 2014 - They report they still have this amount.
March 31st, 2015 - Flow through fund dissolved and some speak about share 'b' being offered redeemed to current private owners.
It looks like these funds are set up to get a tax gain for private investors and then dissolved or have all assets sold over a period of time and cash returned to private investors.

Now we have the current issue.
Front Street Flow-through 2014 II LP NC CEE - Ontario - 3,809,524 for Peregrine diamond shares.
June 31st, 2015 financials - Shows they still hold this amount.
March 31st, 2016 is the dissolve date for the fund.

We have seen continuous selling by Anonymous and reported as a daily insider to the TMX since July of 2015 and continuing to today.
If this theory holds true, then there is only 113,524 shares left to get rid of for this entity based on the transactions below.

That means, there may only be a couple more weeks before the pressure comes off at the same time news is approaching.



Another insider trade on Oct 14th....post Kennady financing...so throws another loop into the theory.
Here is a listing of all trades:

Total to date --> 3,696,000 shares sold for a total of $659,415

Oct 23rd - 366,000 shares traded for a total of $72,790 or $0.199 per share
Oct 22nd - 128,000 shares traded for a total of $24,790 or $0.194 per share
Oct 21st - 186,500 shares traded for a total of $43,600 or $0.234 per share
Oct 20th - 39,000 shares traded for a total of $8,645 or $0.222 per share
Oct 16th - 180,000 shares traded for a total of $29,700 or $0.165 per share
Oct 15th - 61,000 shares traded for a total of $10,065 or $0.165 per share
Oct 14th - 42,000 shares traded for a total of $6,930 or $0.165 per share
Oct 6th - 451,500 shares traded for a total of $72,292.50 or  $0.16 per share
Oct 2nd - 200,000 shares traded for a total of $32,000 or  $0.16 per share
Oct 1st - 353,500 shares traded for a total of $56,795.00 or $0.161 per share
Sept 30th - 202,000 shares traded for a total of $32,492.50 or  $0.161 per share
Sept 25th - 307,000 shares traded for a total of $49,882.50 or $0.162 per share
September 21st - 9,000 for a total of $1,620 or  $0.18
September 17th - 59,000 for a total of $10,620 or $0.18
September 14th - 124,000 for a total of $22,362.50 or $0.18 per share
September 10th - 16,500 for a total of $3052.50 or $0.185 per share
August 10th - 82,500 for a total of $15,262.50 or $0.185per share
August 6th - 20,000 for a total of $3,700 or $0.185 per share
August 5th - 20,000 for a total of $3,700 or $0.185 per share
August 4th - 85,000 for a total of $15,725 or  $0.185 per share
July 31st - 74,000 for a total of $13,320 or $0.18 per share
July 29th - 165,500 for $31,445 @ $0.19 per share
July 20th - 205,500 for $36,240 - Average sale price of $0.176 per share
July 17th - 292,500 for $56,795 - Average sale price of $0.194 per share
July 16th - 26,000 for $5,590 - Average sale price of $0.215 per share.
 
The current theory is that the period from Sept 25th those shares are tagged to Dundee from their previous status of being an insider and those are being tagged as insider still.
That money is speculated on being used to take part in the $48 million financing by Kennady Diamonds. Dundee is one of the key analysts for Kennady and is probably playing a significant part in the financing. They also may get a 5% commission on the deal. The final tranche of that deal closes on October 5th, 2015. October 6th now and the tranche hasn't closed yet.

TMX Insider Shares traded September 25th to October 2nd - 1,513,500
TMX Insider Shares traded  July 16th to September 21st - 1,179,500
Total -- 2,693,000

Oct 6th - 451,500 shares traded for a total of $72,292.50 or  $0.16 per share
Oct 2nd - 200,000 shares traded for a total of $32,000 or  $0.16 per share

Oct 1st, new insider shares reported:
353,500 shares traded for a total of $56,795.00 or $0.161 per share

Sept 30th, new insider shares reported:
202,000 shares traded for a total of $32,492.50 or  $0.161 per share

Sept 25th, 2015, the TMX insider trading reported the following:
307,000 shares traded for a total of $49,882.50 or $0.162 per share

The current theory was that Mr. Keep who resigned as director had remaining 10,303 shares left to sell. The current action today of 307K shares put that theory in question.
The trading to date has been pretty solid in the 18 to 18.5 cent range. Today was a break from that and was sold at market to get the price down to 16 cents. It rebounded back up to 17 cents by end of day. The question then is who did the selling today? and were the previous sells Mr. Keep or were they this seller from today.

The previous sells were never reflected in the insider report...this might be.
If there is a shake up at the Board level going on, the shares could come from possibly Cohen or Goldstein. Watch the news to see if there is more action on the board over the next few days.

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A bit of a break in action, but a few more shares are showing up in the list.

Recent transactions
September 10th - 16,500 for a total of $3052.50 or $0.185 per share
September 14th - 124,000 for a total of $22,362.50 or $0.18 per share
September 17th - 59,000 for a total of $10,620 or $0.18
September 21st - 9,000 for a total of $1,620 or  $0.18

Assuming it was Mr. Keep. That adds up to a total of  987,500
Which leaves potentially 10,303 shares left for sale.


Recent transactions
August 10th - 82,500 for a total of $15,262.50 or $0.185per share
August 6th - 20,000 for a total of $3,700 or $0.185 per share
August 5th - 20,000 for a total of $3,700 or $0.185 per share
August 4th - 85,000 for a total of $15,725 or  $0.185 per share
July 31st - 74,000 for a total of $13,320 or $0.18 per share
July 29th - Another insider transaction @ 165,500 @ $0.19 per share


It is now confirmed that Gordon Keep is no longer on the Board of Director's of Peregrine Diamonds.
The assumption can be made that Gordon Keep has been selling his stake in Peregrine Diamonds for his own personal reasons.

There has been 3 days of recent insider selling for Peregrine Diamonds as reported on the Toronto stock exchange site.

July 16th - 26,000 for $5,590 - Average sale price of $0.215 per share.
July 17th - 292,500 for $56,795 - Average sale price of $0.194 per share
July 20th - 205,500 for $36,240 - Average sale price of $0.176 per share

There was significant pressure on the stock price on July 17th and 60% of the volume was directly related to the insider selling.

Because of the size of the shares total -- 524,000 and assuming it is just 1 seller...the list of choices would be:

68,727,195 - R Friedland (indirect) (related)
47,582,436 - E Friedland (Board and Mgmt)
4,828,401  - Third point LLC (Control or Direction)
1,177,607   - Cohen (Director)
1,189,803  - Keep (Director)
767,857    - Goldstein (Director)
526,750    - Pell (Mgmt)

It has a very low possibility of the top 3 on the list...so it is more likely the bottom 7.

The first question at this point is who did the selling. This will answered over the  next 2 or 3 business days as the official insider report comes to light.

The second question is why would they be selling. The answer may never come and the market is probably left to speculation only.

Daily trades are registered here -- TMX insider - PGD

The site gets updated on a daily basis...so you don't get historic information.

Monday July 20 - Looks like some more anon trades today.

13:58:41T0.175-0.0153,0001 Anonymous1 Anonymous
13:58:25T0.175-0.0155001 Anonymous1 Anonymous
13:58:25T0.175-0.01541,5007 TD Sec1 Anonymous
13:57:53T0.175-0.01521,0007 TD Sec1 Anonymous
13:57:53T0.175-0.01542,0007 TD Sec1 Anonymous
13:57:53T0.175-0.01520,5007 TD Sec1 Anonymous
13:57:53T0.175-0.0155007 TD Sec1 Anonymous
13:57:53T0.175-0.01519,5007 TD Sec1 Anonymous
13:57:53T0.175-0.0151,50014 ITG1 Anonymous
13:57:53T0.18-0.0120,0002 RBC1 Anonymous

Someone is in need of cash infusion.


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