Great investments with tremendous potential in a modernizing world.
Roxmark Mines (RMKMF in the U.S. or RMKL on the CNQ exchange) has been hit by high-volume selling recently. News of a significant shareholder (92 years old and in poor health) selling up to 8.5 million shares for estate tax purposes on the advice of an estate planner
explains this recent selling.
A press release from Roxmark Mines
pointed out that “no director or officer (other than David Malouf in connection with his interest in Zinc Metal Corporation) intends to sell any of their Roxmark stock,” and “no directors or officers of Roxmark are permitted to purchase Roxmark shares until the above-referenced share sale has been completed.”
Late yesterday, this large shareholder put out a press release to verify that the sale of 8.6 million shares had been completed
Now that that estate sale is out of the way, we believe the stock price will recover and Roxmark Mines will finally get the Toronto Venture exchange listing they’ve been waiting for. Considering that the chairman of the board and others exercised millions of warrants to buy shares at .17 over the past few months, this temporary sale has presented a rare opportunity for retail investors to get shares cheaper than the insiders.
The fundamentals of the company’s operations have not changed, and Roxmark’s home page http://www.roxmark.com/
has been updated with information on their ongoing programs:Ongoing programs accelerate gold, moly development on two major fronts:
1. Up to 3,000 tons of moly were recently bulk sampled at Nortoba-Tyson and processed at the Company's Northern Empire mill for sale under contract to a European buyer. In 2007, Roxmark plans to implement an underground development program including drilling and bulk sampling (up to 6,000 tons) at Nortoba-Tyson as a precursor to preparing a feasibility study and development of the moly resource is expected to begin as early as Autumn 2007.
2. Systematic digitization of historic data of the Company’s other properties, including 3-D modelling of gold deposits in three major areas, is underway as the key element in prioritizing exploration program targets on these properties in 2007.
Despite this recent short-term setback in the stock price, we continue to believe in the long-term outlook for the company. "We believe Roxmark shares are likely to go much higher over the long run if things go as planned. We like the molybdenum giving them near-term revenue, the Toronto listing giving them more investors in coming months, and the huge upside with the gold properties."
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