CGD enters the final day of April with a striking story on the buy side — a substantial investor has been quietly building a position across two transactions this month, even as the stock's 100% one-month rally raised the stakes.
The most notable development this week is the insider activity. Calvin Everett has acquired nearly 1.12 million shares across two purchases in April — 600,000 shares on April 13 at C$0.30, followed by 155,000 more on April 17 at C$0.60. Combined, those trades represent roughly C$278,000 in net buying over the past 90 days. Everett now appears in the top holders list with 1.98 million shares, representing about 7.5% of the company — a stake built entirely within the past month. That kind of concentrated buying by a newly significant holder, at progressively higher prices, is the most tangible signal in this week's data.
The price itself has been volatile. CGD closed April 28 at C$0.60, up about 1.7% on the week but down 6.25% on the day. The 100% one-month gain dominates the chart. Against that backdrop, recent events have triggered sharp single-day moves — the last reported event on April 27 produced a -14.3% decline, and the two prior announcements delivered -8.6% and -8.6% respectively. Post-announcement selling has been a consistent pattern. The stock gave back ground quickly each time, which frames the April buying by Everett as deliberate accumulation through those dips.
The short side tells a quiet story. Short interest is genuinely negligible — about 0.014% of the float as of late February, with an absolute share count below 3,000. FINRA's most recent fortnightly figure of 47,025 shares as of April 15 represents a modest days-to-cover of 3.3 at recent volumes. Borrow availability is completely unconstrained, with no shares currently on loan against a 52-week peak utilization of just 4.25%. There is no short pressure here. The short score of 31 sits well below levels that would flag any meaningful bearish positioning.
Ownership is highly concentrated. The top five holders — Electrum Gold Exploration LLC (9.6%), Kent Livingstone (9.4%), Everett (7.5%), Robert Thomas (6.7%), and P. Morfopoulos (6.2%) — together account for close to 40% of outstanding shares. Electrum and the founding-era holders have held steady. Only Everett has moved materially this year. The CFO, Morfopoulos, sold a nominal 640 shares in April 2025 — so small as to carry no signal.
No analyst coverage, no options data, and no forward earnings date are visible for CGD. With a market cap at this size and a TSXV listing, that is expected. What to watch is whether the pattern of post-announcement price declines continues, and whether Everett's buying accelerates, stabilises, or reverses as the stock consolidates near its recent highs.
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