Over the past two years, Bill Beament, Northern Star’s Executive Chairman, has significantly reduced his shareholdings in Northern Star Resources (NST) by over 70%, from 10,589,712 shares to 3,141,793. Beament is giving no confidence to investors. He should be increasing his shareholdings rather than dumping major proportions of his shares. This significant sell-off has been carefully staged over the past two years. Market insiders believe that there is more to Beament’s massive sell-offs than meets the eye. What does he know that he is not telling us?
Beament sells into a bull market
His massive sell downs make shareholders question that he has been offloading his shares, taking advantage of a hyped-up gold market with NST’s unsustainable market capitalisation. Beament selling down his shares is typically regarded as a bearish indicator, but he has been selling into a bull market. Why has Beament been selling in a rising market? He foresees a major correction in the value of NST.
Bill Beament uses his insider knowledge to his personal advantage, raising many eyebrows and possibly finding himself under the scrutiny of the Australian Securities and Investments Commission (ASIC) and facing a raft of litigation alleging misleading conduct and breaches of fiduciary duty.
The captain stays with the ship – the rats desert!
Over the past two years, Beament has been dumping his shares giving serious concerns to his partners, employees, and shareholders. We forecast a major change in NST’s shareholder registry as others soon wake up to this exodus.
Beament’s massive insider sell-downs sees shareholders questioning his credibility to remain as Executive Chairman of the Perth-based mining company. Shareholders are tiring of Beament’s deceptive conduct. NST’s highest-ranking corporate insider is offloading his shares. The strongest warning is being issued to the market — get out!
Our forecast is that shareholders will offload their shares to salvage whatever profits they have left. Beament and his Public Relations team will soon be in damage control mode.