In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Bingham Canyon Corp. (OTCMKTS:BGHM) reported that Ung Willy L has picked up 3,750,000 of common stock as of 2017-05-24.
The acquisition brings the aggregate amount owned by Ung Willy L to a total of 3,750,000 representing less than 9.0% stake in the company.
For those not familiar with the company, Bingham Canyon Corporation is a shell company. The Company intends to seek, investigate, and, if warranted, acquire an interest in a business opportunity. The Company’s acquisition of a business opportunity may be made by merger, exchange of stock, or otherwise. The Company does not have any operations. The Company has not generated any revenues.
A glance at Bingham Canyon Corp. (OTCMKTS:BGHM)’s key stats reveals a current market capitalization of 75.81 Million based on 39.90 Million shares outstanding and a price at last close of $1.90 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-01-30, Grieco picked up 1,000 at a purchase price of $1.65. This brings their total holding to 4,007,847 as of the date of the filing.
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 Bingham Canyon Corp. (OTCMKTS:BGHM) as things move forward to see if its progress aligns with these transactions.
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