In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Golden Queen Mining Co. (TSE:GQM) reported that Eht, Llc. has picked up 13,729,266 of common stock as of 2017-05-03.
The acquisition brings the aggregate amount owned by Eht, Llc. to a total of 13,729,266 representing less than 11.9% stake in the company.
For those not familiar with the company, Golden Queen Mining Co., Ltd. is engaged in the development of the Soledad Mountain Project (the Project), located in the Mojave Mining District, Kern County, California. The Company incorporated Golden Queen Mining Canada Ltd. (GQM Canada), a British Columbia subsidiary, to hold the Company’s interest in Golden Queen Mining Holdings, Inc. (GQM Holdings). GQM Holdings owns an interest in Golden Queen Mining Company, LLC (GQM LLC), which explores and develops the Project. GQM LLC holds directly or controls through agreement a total of approximately 30 patented lode mining claims, over 160 unpatented lode mining claims, approximately one patented millsite, over 20 unpatented millsites, and holds directly or controls through agreement approximately 1,330 acres of fee land, which together makes up the Property. The Property is located west of California State Highway 14.
A glance at Golden Queen Mining Co. (TSE:GQM)’s key stats reveals a current market capitalization of 87.90 Million based on 111.05 Million shares outstanding and a price at last close of $0.790 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2013-11-22, Guarnera picked up 15,000 at a purchase price of $0.87. This brings their total holding to 25,000 as of the date of the filing.
On the sell side, the most recent transaction saw Clay unload 6,886,509 shares at a sale price of $0.99. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Golden Queen Mining Co. (TSE:GQM) as things move forward to see if its progress aligns with these transactions.
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