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Gold Resources (GORO), responding to today's 15% shellacking amid heavy volume, says its largest...

Gold Resources (GORO), responding to today's 15% shellacking amid heavy volume, says its largest shareholder, Hochschild Mining, sold 3.4M shares of common restricted stock. GORO believes the sale is near the maximum number of shares eligible for sale in the market for a 90-day period.
Comments (2)
  • joei
    , contributor
    Comments (129) | Send Message
     
    Not sure what this means: "GORO believes the sale is near the maximum number of shares eligible for sale in the market for a 90-day period"?

     

    Is it or isn't it???

     

    According to what I looked up, Hochshild Mining owned over 14 million shares, over 25% of the outstanding shares. Are they going to sell more? What's to keep them from selling all of their stock? Surely management knows something...I hope!
    12 Jul 2013, 07:01 PM Reply Like
  • Dividendandstockfish
    , contributor
    Comments (56) | Send Message
     
    I haven't looked at Hochshild Mining so I don't know if they need to raise cash or what. I own Goro so if they being Hochshild do sell more it would put downward pressure on the share price. As long as cash flow covers the dividend and the business keeps growing I will continue to reinvest my dividend in more shares.
    14 Jul 2013, 07:18 AM Reply Like
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