Ross Beaty has liquidated part of his position in VEN.TO – Ventana Gold a Colombian junior gold mining stock. VEN.TO has been one of my great trades last year. That’s the reason why it has stayed on my public list for so long although I exited a while back around 9.20 or so. The easy money has been made and with today’s news the story stock potential is gone.
Eike Batista has kept increasing his VEN.TO position and now holds approximately 20% of the company. It’s anybody’s guess if he will end up buying out the company. A 5-fold increase within 12 months we witnessed after Ross Beaty’s entry is highly unlikely from these levels.
It’s time to move on and find new stocks with outstanding potential.
I will remove VEN.TO – Ventana Gold from my public list soon but it remains part of the:
CORRECTION 06/09/10:
I originally wrongly stated Lumina Capital sold its entire position in VEN.TO. It only sold part of its position. Lumina still holds a big position in VEN.TO. Nonetheless technically speaking the easy money looks to be gone. I changed the title of my post to avoid any confusion.
Ventana Gold Corp. (VEN) |
As of June 7th, 2010 | ||||||
| Filing Date | Transaction Date | Insider Name | Ownership Type | Securities | Nature of transaction | # or value acquired or disposed of | Unit Price |
| Jun 07/10 | Jun 01/10 | Lumina Capital Limited Partnership | Direct Ownership | Common Shares | 10 – Disposition in the public market | -97,400 | $10.104 |
| Jun 07/10 | May 31/10 | Lumina Capital Limited Partnership | Direct Ownership | Common Shares | 10 – Disposition in the public market | -254,400 | $10.245 |
| Jun 07/10 | May 28/10 | Lumina Capital Limited Partnership | Direct Ownership | Common Shares | 10 – Disposition in the public market | -130,700 | $10.311 |
| Jun 07/10 | May 27/10 | Lumina Capital Limited Partnership | Direct Ownership | Common Shares | 10 – Disposition in the public market | -400,000 | $10.564 |
| Jun 07/10 | May 26/10 | Lumina Capital Limited Partnership | Direct Ownership | Common Shares | 10 – Disposition in the public market | -1,247,700 | $10.606 |
Still more patience needed for the markets to set up again. India’s RDY – Dr. Reddy’ Laboratories is one of the few stocks that is showing signs of continued great strength.
Another soccer quote for tonight. Goes to show trading and soccer is more or less the same 😉
Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing or learning to do. – Pelé (Edison Arantes do Nascimento)
My public list with all my charts can be viewed here:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2791469
Buenas noches!
{ 2 trackbacks }
Comments on this entry are closed.