Hard To Get My Hands On RSC Shares
The Strateco accumulation professionals are extremely good. They are so good that I have tried two days in a row to buy some shares and I haven't been able to.
On Tuesday I entered a day limit order for $0.80. That was not filled.
Today I entered a day limit order for $0.82. That was again not filled.
The price has been unchanged for 3 days straight which I think is very good news.
Tomorrow I will probably again try to get some shares.
Oh and if you didn't notice, Strateco released some great news that is nothing new but confirmation of what was the original plan. The news has to do with the spin off of its gold assets into a new little junior. This company will have a tiny market cap so I am thinking that if they have some great discovery we will be able to get in before the big news by watching for stock accumulation. Here is the entire news release:
Strateco Resources Inc. (Strateco)(TSX VENTURE:RSC - News; FRANKFURT:RF9 - News; OTCBB:SRSIF - News) is pleased to announce that Cadiscor Resources Inc. (Cadiscor) has filed on July 10, 2006 with the regulatory authorities of British Columbia, Alberta, Ontario and Quebec a Preliminary Prospectus for an Initial Public Offering (IPO). The IPO consists of flow-through common shares (Flow-Through Shares) and units (Units) of Cadiscor. Each Unit consists of one common share and one half of one common share purchase warrant (Warrant). Each whole Warrant will entitle the holder to purchase one common share of Cadiscor for a period of 18 months after the closing date. The issue price will be negotiated with the Agents.
Dundee Securities Corporation will act as Lead Agent of the IPO in a syndicate that includes Canaccord Capital Corporation and Haywood Securities Inc.
Cadiscor applied today with the TSX Venture Exchange for a listing of its common shares.
On June 20, 2006, at the Annual and Special Meeting of Strateco, the Strateco shareholders unanimously approved the spin-off of the gold assets to Cadiscor in exchange for 20,000,000 shares of Cadiscor. The shares will be distributed to Strateco's shareholders, registered at the date preceding the listing of Cadiscor's shares on a Canadian Exchange.
Proceeds from the IPO will be used to fund the exploration programs on the Discovery property, to assume the balance of commitments related to the acquisition of the Discovery Property and for working capital purposes.