Why the heck did he sold > 1 miliion shares ... it's not like he needs the money .... scratching my head, however he still owns a lot more
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
Oct 27/10 Oct 19/10 Beaty, Ross J. Indirect Ownership Common Shares 10 - Disposition in the public market -508,300 $4.080
Oct 22/10 Oct 15/10 Beaty, Ross J. Indirect Ownership Common Shares 10 - Disposition in the public market -61,300 $4.130
Oct 22/10 Oct 14/10 Beaty, Ross J. Indirect Ownership Common Shares 10 - Disposition in the public market -319,300 $4.156
Oct 22/10 Oct 13/10 Beaty, Ross J. Indirect Ownership Common Shares 10 - Disposition in the public market -311,100 $4.210
Sep 02/10 Aug 27/10 HudBay Minerals Inc. Direct Ownership Warrants 16 - Acquisition under a prospectus exemption 5,452,795 $3.900
Sep 02/10 Aug 27/10 HudBay Minerals Inc. Direct Ownership Common Shares 16 - Acquisition under a prospectus exemption 10,905,590 $2.750
Sep 01/10 Aug 27/10 HudBay Minerals Inc. Direct Ownership Warrants 00 - Opening Balance-Initial SEDI Report
Sep 01/10 Aug 27/10 HudBay Minerals Inc. Direct Ownership Common Shares 00 - Opening Balance-Initial SEDI Report
Aug 24/10 Aug 20/10 Clark, Donald Barry Direct Ownership Common Shares 51 - Exercise of options 480,000 $1.560
Aug 24/10 Aug 20/10 Clark, Donald Barry Direct Ownership Options 51 - Exercise of options -480,000 $1.560
- Amended Filing
Early Warning System and Alternative Monthly Reporting System
In Ontario, the early warning reporting regime (the EWR) applies when a person or company acquires ownership of 10% or more of the voting or equity securities of a reporting issuer. This provides the market with immediate notice that a particular person or company is accumulating a significant block of shares in a reporting issuer. There is an alternative monthly reporting regime (the AMR) for certain types of entities who qualify as an "eligible institutional investor", as such term is defined in National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (NI 62-103).
The AMR provides a less onerous reporting regime for institutional investors who have no current intention of acquiring control of the reporting issuer. For example, such investors are permitted to report their holdings in reporting issuers at regular intervals, rather than on an immediate basis as is required under the EWR.
yes ... you might ne onto something .. read this :
Take-Over Bids, Special Transactions and Early Warning
Take-over bids, issuer bids and special transactions are regulated by securities law provisions in the Securities Act (Ontario) and related rules. Securities legislation in Ontario also includes early warning requirements which apply when a person or company acquires ownership of 10% or more of the voting or equity securities of a reporting issuer.
This section contains information on the requirements related to these types of transactions.
Take-Over Bids and Issuer Bids
In Ontario, the regulatory regime governing the conduct of take-over bids and issuer bids can be found in Part XX Take-Over Bids and Issuer Bids of the Securities Act (Ontario) (Part XX) and OSC Rule 62-504 Take-Over Bids and Issuer Bids (OSC Rule 62-504)
In all other Canadian jurisdictions, the regulatory regime governing the conduct of take-over bids and issuer bids is harmonized through the application of Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids (MI 62-104). Part XX and OSC Rule 62-504 contain substantially the same provisions as those contained in MI 62-104.
National Policy 62-203 Take-Over Bids and Issuer Bids (NP 62-203) provides additional guidance about Part XX, OSC Rule 62-504 and MI 62-104.
Special Transactions (MI 61-101)
In Ontario and Quebec, additional disclosure, valuation and security holder approval requirements may apply to certain transactions that involve the rights of minority security holders and which may raise conflict of interest concerns, specifically: insider bids, issuer bids, business combinations and related party transactions.
Obviously I can't answer the question, but it would seem he has a loss on Nord which he may match up against his gain on some AZC, all within his cu portfolio. That would be fine and good. The question I have, of course, is on the negative side. Does he have to report transactions if he owns less than 10% of the company? Anyone? I beleive he is now at 9.96%.
What does this seller know.
If you can make 50% return during the next 12 months, assuming project is approved, why in earth sell shares unless your other investments would appreciate more than 50% which is not likely.
Perhaps his conversations with management is that they expect lawsuits to be filed when the permit is issued in 2011 and this will stop the project cold for 2-3 years.
If RB sells another million shares in November or December, then we should all sell and get back in after the correction takes place from the various lawsuits being filed.
jeez, I'm gone a few days and everything has gone goofy. Ross selling is not good, though people like Ross move things around and this was a small portion of his shares. The danger is that because of his insider priviledge he knows something the rest of us don't. And that, in the context of the recent EIS conveyance can make anyone queasy. Also, there is the danger that other holders know something of the EIS that the rest of us don't know. This is always the danger of being on the outside. For me, as an investor, I have to trust Gil, that he's not feeding us to the dragons. Another issue in the recent drop is the proximity of the ppi and cpi to a deflationary conflagration. Deflation can kill anything, start wars, who knows. The FED has layed down the gauntlet and demands inflation. If they succeed, we succeed. If not, well... There are quite a few challenges to the FED on this policy, but my guess is that the FED wins due to its independence, at least for a while. All the European issues can, as well, be condensed down for us as deflation or no. The bears say deflation and another 1930s style depression. The bulls say inflate and be happy. I am betting on a "muddle through" with no serious growth for 2-3 more years. For AZC, while very much subjected to the deflation potential, is more news oriented, most of which seems good if you trust management, which I do. Therefore, this is a good time to buy, and the EIS will be good reading. Do your own due diligence, beg Ross to re-buy his shares, and good luck to all.