start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

11/27/14

Insider selling by the CEO of Fortuna Silver (FVI.to) (FSM)

A list of facts:

  • On November 18th, Fortuna Silver (FSM) (FVI.to) CEO Jorge Ganoza exercised 36,600 of his options priced at $4.03 and sold them all at prices between $5.20 and $5.30.
  • On November 20th, Ganoza exercised 39,200 of his options priced at $4.03 and sold them all at prices between $5.20 and $5.22.
  • On November 21st, Ganoza exercised 110,400 of his options priced at $4.03 and sold them all at prices between $5.21 and $5.33.
  • On November 24th,  Ganoza exercised 190,000 of his options priced at $4.03 and sold them all at prices between $5.22 and $5.53.
  • On November 25th,  Ganoza exercised 136,000 of his options priced at $4.03 and sold them all at prices between $5.20 and $5.51.

In total, in the space of one week FVI president and CEO Jorge Ganoza has exercised 512,200 options of his company, priced at $4.03 apiece, and sold them all into the market at an (IKN estimated) average price of $5.30. In other words, around $650,000 in pre-tax profit. What does Fortuna Silver's CEO know about Fortuna Silver that we don't? 

Data from here.

PS: Another 20,500 sold November 26th and filed 27th, same story. Throw another $25k on the pile.