Bill Beament’s massive insider selling unnerves Northern Star’s investors and shareholders. Beament is privy to fiscal information that will likely affect investments in the company, putting shareholders at a disadvantage. Northern Star’s Executive Chairman is selling into a soaring market.
Beament is likely cashing out as Northern Star is heavily overcapitalised. Has Beament foreseen major loss in the value of his Perth-based gold mining company and is looking to jump ship?
Beament deserts his ship
With inside information, Beament has consistently dumped his shareholdings. It is forecast that Northern Star’s share price will drop because of bad management decisions from Beament, increasing costs, and falling gold resources.
Beament has been offloading his shares in Northern Star Resources over the past two years, and he appears to be on the roll, selling further in a bull market. Beament’s holdings took a plunge after he has sold down 70% of his holdings in Northern Star from 10,589,712 shares down to 3,141,793.
His massive sell-offs give rise to the suspicion that he has been cashing out, taking advantage of a hype gold market with unsustainable market capitalisations.
Shareholders follow Beament’s lead, selling into a bear market
While Beament sells into a rising market, other shareholders that continue to hold in Northern Star will sell into a bear market, where share prices fall and are expected to plummet. Beament’s deceptive conduct and massive selling of shares spur concerns from market insiders, employees, partners and shareholders.
The key factors affecting Northern Star’s value, such as Beament’s poor judgment decisions, falling gold resources, and increasing costs, are precursors of the company taking a downturn and the share price taking a nosedive. Existing shareholders are well-advised to exit their holdings before they lose value.