Insider Selling on One of Our
Favorite Companies
In this issue:
A Market Recap
The volatility in the markets continue with gold
dropping back below $1800 an ounce. We believe there is a high
probability that gold has put in at a minimum a short top and
probably an immediate term top. Of course, long term, we believe
there is much more to come but we need a cooling off period which
will allow the markets time to consolidate and gather the needed
strength to move to new highs in the coming months and years.
That said, we continue to be intrigued with some
of the small exploration companies which are languishing at yearly
lows. We are following many companies that are trading below C$0.10.
We cannot help but believe some of these current under performers
will be some of the big winners in the coming months and years. A
basket of these low prices shares has the potential of providing us
with 500% to 1,000%
or more.
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Insider Selling on Great Panther (Not to
Worry)
One of the benefits for subscribers is our
constant monitoring of insider activity. We are always looking for
new opportunities in which we would issue a BUY ALERT but we also
are monitoring all insider activity on all of the companies that we
own or which have warrants trading on companies in our warrant
database.
One of our favorite companies for several years
has been Great Panther Silver,
TSX:GPR and NYSE: GPL
Recently we noticed that Robert Archer,
President and CEO has been selling some of his shares and of course
this waved a caution flag for us.
Now insider selling does not always warrant a
major concern as insiders, like all of us, have a need to sell and
raise some monies for personal reasons.
In this case, I know Robert Archer and so I shot
him an email Friday evening and he immediately replied and assured
me that his selling was for personal reasons and not a negative
reflection on his views of Great Panther.
Robert Archer gave me his permission to share
his comments so here are Robert's comments in two separate emails:
Hi Dudley,
Good to hear from you.
Your response below was absolutely correct and I have
nothing to hide. My wife and I are buying some real
estate and I need the cash now to close the deal. It’s
that simple. No reflection on the company or the markets &
this is only about 20% of my holdings. It is the first
time since I co-founded the company in 2004 that I have sold
any of my core position and I make no apologies for doing so
now. Feel free to pass this along.
See you on the circuit!
Best regards, |
Hi Dudley,
I get really tired of people complaining about insiders
selling their shares, particularly if and when the latter
are the very folk who found and grow these companies.
With our share price performance over the past year, I have
had many people thank me for the new homes they have built,
cars they have bought and for funding their kids university
education. Yet somehow, there is a perception that
insiders are not allowed to partake in this benefit.
Everybody wants insiders to support the stock when it is
under pressure but they are not allowed to sell when it goes
up. So what is the point of owning any stock at all if
we can’t sell it? Not a particularly good investment
strategy!!
Nine
years ago,
I started the private company that became Great Panther with
my own humble savings and, with the help of some dedicated
and talented individuals, we have grown it into the success
it is today. Many of us went without salary in 2008-09
and put our own money into a financing at that time to help
the company survive. We are the ones who
created the value that everyone else is happy to profit from
now, so why is it such a crime for us to reap similar
benefits?
As pointed out in my previous email, I have increased & not
sold any of my core position in more than seven years and
make no apologies for selling a portion of it now.
As I do not partake in blogs or bulletin boards, I give you
free reign to reproduce this email if you see fit.
Regards
Bob Archer
President & CEO Great Panther Silver Limited 2100
- 1177 West Hastings Vancouver, BC V6E
2K3 (604) 608-1766 |
|
Disclosure:
We are 100% behind Robert Archer and his team at Great
Panther Silver. Some of our personal position was acquired around
C$0.50 and some as low at C$0.20 in 2008 and we continue to hold our
shares as part of our Core Holdings.
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