Friday, June 17, 2011

Gold Resource Corp (GORO): Lucky management

David Reid, co-founder, director VP Expl, Secretary and treasurer of Gold Resource Corp (GORO) has been cashing out.

According to the filings that the rabid GORO faithful either never read or ignore, Between May 11th and May 19th, he sold 65,701 of his shares. If we assume he got an average of U$28 for each one (some he sold in the 27s, some in the 28s) he'd have raised U$1.84m from the sales. 

Oh, and by the way, company President Jason Reid sold 24k of his shares worth around U$700k on May 18th and 19th, too. Same kind of prices, same excellent luck at market. Cue owly: