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Patagonia Gold’s Marc Sale honourably resigns, so reappoint him?!

By Ben Turney | Thursday 4 September 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


On Tuesday afternoon, twenty minutes before the market closed, Patagonia Gold (PGD) announced that its technical director, Marc Sale, had failed to disclose seventeen personal share transactions. These included fourteen market purchases of Patagonia stock and three sales. In the normal course of events, this might have been the sort of sensationalist fodder we thrive on. There is certainly an impression that calling for the scalps of rule breaking AIM directors is all we do. However, there was something not quite right about this story, not least because of the relatively small amounts involved.


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