start here

start here

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

I say things on Twitter

3/22/19

Regarding Cordoba Minerals (CDB.v) and having skin in your game

The material change report filed on SEDAR last night that gave details of the recently closed placement included this table:


See the line for company CEO Mario Stifano? See that little "6" by his name? Here ya go:


For sure it's nice that the ostensible top cheese in the company joined in the placement but, when you read the details, it turns out he sold 500,000 of his shares on the open market in order to buy 500,000 units (that included the warrant) in the placement deal. For a company CEO who earns $350,000 cash per year from his job at CDB, the optics on the way he decides to liquidate $50k's worth of stock just to replace are pretty darned poor. Especially as he only owned 0.4% of shares out before the deal ran and that hasn't changed a jot. Apart from those freebie warrants, of course.

I mean, I know the cost of living in Vancouver or San Diego isn't the cheapest, but...