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They may find that potential partners and providers of NRE may look at the balance sheet and cash flow statement from June and be concerned about whether or not PTK has the resources to see a project through to completion. A potential provider of NRE is not going to do all the due diligence to find out whether DL products can produce enough revenue and CF to sustain operations and fund R&D.
It may be that upping the cash balance is there to provide comfort.
It was I who characterized PC as a ghost. When I asked these questions about 18 months ago, JETS911 provided background from SEC filings:
http://agoracom.com/ir/POETTechnologies/forums/discussion/topics/640910-our-capital-markets-guy/messages/2010727#message
Neither of the previous companies are easy to find any information about. What we can see is that there is some background in the metals/minerals space. I find it hard to swallow the idea that he is hired by some hedge fund in NY.
Never say never, but hard to see.
Let's just say that PC's story is that he is working at a hedge fund in NYC and therefore has to dump his shares. Google doesn't find him anywhere. He has no LinkedIn profile. He is for all intents and purposes a ghost - no history on the internet prior to his involvement at POET. He came in with Inwentash who had a questionable past.
Buy side people are usually quite free to own shares/options. The restrictions are on trading - minimum hold periods, time of day for trades, no conflict in trades with the portfolio being managed (i.e. no trading for 5 days pre/post trades for portfolio), things like that. I have been buy side for more than 25 years and I have seen plenty of these programs. Yes, there are some that say no holding individual shares. But if he really believed in the long term value, it would have to be a big pay packet to get him on board and make up for the opportunity cost.
I think he is just dumping his shares.
Noble Mineral Exploration Updates Progress in Mineral Exploration Assets and Technology Business Evaluation - The newswire.ca
09-Aug-2016 09:00:28 AM
(via Thenewswire.ca)
TORONTO, ONTARIO /TheNewswire/ August 9, 2016 -Noble Mineral Exploration Inc. (the"Company" or "Noble") (TSX-V: NOB) is pleased toannounce that it has recently carried out a geophysical interpretationof the airborne anomalies on the Company's Project 81 mineral rightsand is continuing its ongoing evaluation of new technology-basedopportunities in the consumer space.
MineralExploration Prospects, Project 81
In order to move the Company'smineral projects forward, the Company has recently completed anupdated prioritization of the geophysical targets on its mainproperty, Project 81 in the Timmins-Cochrane area. A new SlidePresentation incorporating this information has been posted to theCompany's website www.noblemineralexploration.com which we would encourage you toreview. A number of strong drill ready VMS and gold targets have beenidentified. In addition the Company intends to carry out a proprietaryairborne test gravity gradiometer survey over the entire Project 81claim block by the end of the year. If the survey identifies a gravityanomaly associated with an EM hi/Mag low geophysical anomaly, it wouldindicate a signature similar to the nearby Kidd Creek mine currentlycelebrating its 50thanniversary.
With better junior resourcefinancial markets at hand, it is contemplated that the Company couldpackage its mineral assets into two distinct vehicles with one focusedon its gold-related exploration assets and the other on its basemetals, VMS and nickel assets. The gold related assets would includethose identified in Project 81 in Lucas, Aubin and Dargavel townshipstogether with its Wawa-Holdsworth gold oxide sand project.
It is intended that the shareholders of Noble would be provided theopportunity to participate in both. Please note that any suchtransactions would be subject to Board and TSX Venture Exchangeapprovals.
High Technology Opportunities
Following a preliminary survey and initialapproaches to a number of privately-held firms in the Internet ofThings space, Noble has advanced to in-depth discussions with severalfirms, including the signing of Non-Disclosure Agreements (NDAs) wherewarranted, and an analysis of current business plans and theircompatibility with potential initiatives in optical wirelesscommunications (OWC) type applications in the Internet of Things(IOT).
IOT refers to the use of embedded sensors,transceivers, and other devices to network objects; the status of suchobjects may be used to optimize products, services, and operations incommercial applications. OWC is one of several high-speed short-rangecommunications options being evaluated as ventures in which Noblemight seek to become active, and includes visible light communicationand free space optics.
This initiative continues to be led by Dr.Samuel Peralta and the framework of Dr. Peralta's recommendations tothe Board is modelled after the pivot of Tandem Resources Ltd. intoPOET Technologies Inc. ("POET") through the acquisition ofOPEL Inc. Initially a photovoltaics company, POET further pivoted intoa company providing advanced monolithic optoelectronic platformsolutions and, fuelled by recent acquisitions, into a semiconductordevice manufacturer with operations in Canada, the US, Europe andAsia. Dr. Peralta was a founding Board member of POET, and was a keyfigure in both of its pivots.
It should be noted that the Company hasneither entered into the technology space nor concluded businessarrangements with the privately-held IOT companies signed under NDAswith Noble. Noble activities in this space remain at an investigativestage, and it is the Company's intention not to disclose specificdevelopments with respect to its progress in this space, unless anduntil the Board has approved a course of action. An entry into thetechnology sector will be subject to regulatory compliance, includingshareholder approval.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is aCanadian based junior exploration company holding in excess of 70,641hectares of mineral rights in the Timmins - Cochrane areas of NorthernOntario. The Company also holds a portfolio of diversified explorationprojects at various stages of exploration Gold in the Wawa area ofNorthern Ontario, and Uranium in Northern Saskatchewan. More detailedinformation is available on the website at www.noblemineralexploration.com.
Cautionary Statement:
Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.No stock exchange, securities commission or other regulatoryauthority has approved or disapproved the information containedherein.
The foregoing information maycontain forward-looking statements relating to the future performanceof Noble Mineral Exploration Inc. Forward-looking statements,specifically those concerning future performance, are subject tocertain risks and uncertainties, and actual results may differmaterially from the Company's plans and expectations. These plans,expectations, risks and uncertainties are detailed herein and from time to time in the filings madeby the Company with the TSX Venture Exchange and securitiesregulators. Noble Mineral Exploration Inc. does not assume anyobligation to update or revise its forward-looking statements, whetheras a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2016 TheNewswire - All rights reserved.
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The presentation is now posted - no big surprises
Gilver - I don't think "The Market" is doing the penalising - unless you think that Canaccord is "The Market". The Market is just not buying, and Canaccord is doing a serial dump - 2.55 million shares net sold since the THM......