Saturday, August 4, 2012
Volcanic Metals...Loading up the truck
Volcanic (V.VOL) is a company focused on new gold discoveries in the white gold district of the Yukon. I plan on doing a more in-depth write up of the fundamentals at some point in the future, but figured I would bring up a few interesting things I've noticed over the last month or so with VOL.
Micheal Iverson, the president of VOL, has been loading up on shares all throughout this past month. Tuesday saw him pick up another 214,000 shares on top of the the other hundreds of thousands of shares he has been purchasing. In total, since June 7th he has loaded up on over a million shares. Quite significant considering the company has a just over one million dollar market cap.
As well, the companies website is undergoing construction. Could be nothing, but stuff like always raises a bit of speculation.
A quick glance at the sedar website shows a couple of 51-101 F3 (an oil and gas disclosure form), which is interesting as well.
half a year ago or more, I can't remember, VOL management proposed a 10:1 roll back of shares in hopes that it would allow them to attract funding more easily (not sure how?). The stock price was at 0.12 at the time, and news of the rollback, which didn't end up going through, seemed to cause a price drop to .05, which is where I bought shares. At 0.035 I see it as being highly under valued, especially as a number of excellent results have come out of the Yukon as of late...but I'll get to all that later.
Until then, watch the insider buying going on by management.