If the proof of the illegal shorting was easy to find, the practice wouldn't be so pervasive. The best proof I can offer is a review of the stock chart over the past 4 months.
It makes no sense to me that more people would be selling than buying as the Company nears completion of the mill. Every long I know has bought more and more and more as the pps has dropped. So who is selling?
As I understand it, most of the restricted shares were purchased above today's pps so that doesn't offer any explanation. Also, presumably, those holding restricted shares would see the value here more than the average investor.
The relentless downward pressure on this stock does not match the fundamentals. IMO, the MMs and their partners are short about 500 million shares and view the pps as a one way street down to zero. This will be a problem if the Company does not get a line of credit or can't generate positive case flows for many more months.
However, once the Company is truly done raising money via the stock, and if/when they announce the rumored extraordinary results of their drilling operation, the new money will flow into this stock so fast that the people short will see the credibility and will cover in a big hurry. Even better would be a tender offer from a major mining concern.
F18
AI
