ironyman thanks: RE: 28 % of all shares traded today in GPL were short sales.....
shorting and bashers may be history soon - I will pray for it - to get a more fair stock market place; for Mom & Paps and all investors;
Save Canadian Mining Congratulates Ontario’s Capital Markets Modernization Taskforce on Addressing Predatory Short Selling in Final Report Urges the Ministry of Finance to Implement Recommendations
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Toronto, January 25, 2021 – Today Save Canadian Mining is congratulating the Capital Markets Modernization Taskforce (the “taskforce”) on the publication of their final report to Ontario’s Minister of Finance.
“It is great to see that a number of recommendations were added to the draft report they published in the Fall,” said Terry Lynch, Executive Director of SCM. “We were pleased to share the story of junior mining companies throughout this review process, and our coalition is proud of the results of this work,” said Lynch.
One of the notable additions to the final report was a new recommendation addressing the settlement of short sales. Unlike in the US, Canada’s markets allow for “naked short selling,” a practice that allows for the short-selling of tradable assets without first borrowing the security. In 2008, the Securities and Exchange Commission (SEC) in the US banned what it termed “abusive naked short selling,” yet it remains legal in Canada? Through their recommendations, the taskforce has called on the ministry to close a key loophole related to this.
“SCM urges the ministry of Finance to support capital formation for junior issuers and implement these changes to the Securities Act as soon as possible. It is critical for our sector that these structural changes happen. Junior miners have been victims of regulatory loopholes and algorithmic and high frequency traders for too long,” said Lynch. “We look forward to working with the Ontario government on implementation and as they look to make Ontario a more attractive place to invest.”
SCM was launched in November 2019 to unify Ontario’s junior mining sector in requesting regulatory changes to Ontario’s capital markets. The organization is supported by the TSX Venture Exchange, the Ontario Mining Association, the Ontario Prospectors Association, as well as mining industry leaders like Eric Sprott (Sprott Mining Inc.), Sean Roosen (Osisko Mining Inc.), Keith Neumeyer (First Majestic Silver Corp.), and Rod McEwen (McEwen Mining Inc.), and over 3,000 supporters through its online campaign
Since SCM’s launch, the Ontario government has publicly acknowledged that a review of the Securities Act was overdue, launched a review of the Securities Act, appointed a taskforce to consult with stakeholders, and has pledged to remove barriers to growth for small businesses trading on public exchanges.
Supportive Quotes: “Predatory short selling has been an issue in the mining sector for a long time. The taskforce report is a good signal to our industry and we support the work that SCM will be doing to encourage government to implement these recommendations,” said Chris Hodgson, CEO of the Ontario Mining Association.
“Our members have been particularly hard-hit by predatory short selling. By addressing this, the taskforce has provided hope to junior mining and exploration companies. We encourage the Ministry of Finance to implement these recommendations in a timely manner,” said Garry Clark, Executive Director of the Ontario Prospectors Association.
2021 Save Canadian Mining, You are receiving this email because you opted in via our website.
Our mailing address is: Save Canadian Mining Unit 305 1000 King St W Toronto, Ontario M6K3N1 Canada
Sprott is heavly involved in this one -
Ex.... Eric Sprott: Save Canadian Mining, Stop Predatory Short Sellers 12,572 views•Nov 20, 2019
Investing News 17.2K subscribers Canadian billionaire Eric Sprott is backing Save Canadian Mining, a new advocacy group whose primary aim is to reinstate a securities trading rule known as the "uptick rule" or "tick test." #SaveCanadianMining? #EricSprott?
Launched this week by Terry Lynch, CEO of Chilean Metals, the initiative has quickly gained attention from those in the junior resource space.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence. 43 Comments Default profile photo Add a public comment... Tobleronewnuts Tobleronewnuts 1 year ago Hey Charlotte, love your interviews, can you get a boom mike though I have to turn you up so loud
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Mike Rattee Mike Rattee 1 year ago Thank you Eric for your insight and investment in Canada! YOU are a gem.
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RampagingMullet RampagingMullet 1 year ago how about competing platforms with no transparency. As a retail investor, I put up a bid for a stock and I started to get filled and then before my whole order is filled, other orders from other exchanges start getting filled. Is this algo's front running real orders? where is the transparency? What about first order in first order filled. The TSX is fucked.
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Warren Hooper 1 year ago Audio is too faint.
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Reid Chalmer 1 year ago Thank you Mr Sprott for pursuing this issue. I've invested in the Canadian junior mining sector for years but after losing thousands of dollars with no end in sight (from predatory short selling on vulnerable micro-caps) I've had to throw in the towel recently as it's a continuous losing game for anyone going long as an investor.
The divergence between the rising gold price over much of 2019, and most of the Juniors continuing a long term downward bear, spells a deeper fundamental issue with the governance/operation of the market. Rising prices while the Canadian junior mining market appears like an abandoned ship, serves to demonstrate that there are no fundamentals left; hence, an advocate is needed to lead reform. Thank you for taking on this crusade for a fairer, more level playing field.
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Wilf Higginson 11 months ago Well I'm an honest guy I guess.... I've road stocks right to the bottom ??
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Jerry's This and That 1 year ago Thank you for sharing this video with us all. I signed.
Essence of Growing 8 months ago Can you republish this with English subtitles? It’s hard to hear. Thanks!
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Aiminghealth 1 year ago Agree! Hope this reinstatement can be done sooner than later. Great video!
m novo 1 year ago Just like stocks, this video needs volume. #GOLDBULL
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robert anderson 1 year ago With depletion and the lack of discoveries, the potential loss of our mining industry is real.
90repairman 7 months ago The sound on this video isn't proper. I can hardly hear her. I can't hear him very well with the volume turned to max.
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Big Game J 1 year ago (edited) Eric Sprott has had an epiphany. I know CEO's that pointed this problem out the day the short rule was removed! I am glad that someone with a name is finally complaining but only when it starts to effect their pocket book.
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Mangetout 10 months ago This woman is a great interviewer!
Raj A.K. 6 months ago (edited) Hi Charlotte, Nice questions, but if it is a bit louder it would be great. I also want to ask Mr. Eric about, what about green practice in mining industries & companies that he invested so far. #Sprott #SaveCanadianMining #EricSprott #GreemMiningPractice
Joe Rathwell 1 year ago Please stop the PUMP & DUMPERS as well. My friend is sitting on losses that will never be recovered. We spoke with the company in question, they went to the TSX and so did we. The TSX claims they are watching these dirtbags,, my word. This is why folks are reluctant to invest in the juniors
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Paulo Gouveia 5 months ago Bloody hell get better sound its like a whisper
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Dmac K 1 year ago Constant shorts attacks on Junior's like Harte Gold have caused a complete collapse of its market cap. Far below where it should be. I feel for companies and their retail investors. Petition signed.
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Peter 1 year ago Why not start an exchange that doesnt allow short selling. Then those companies who dont like that (who doesnt?) would migrate to that exchange. Without getting those politicians involved..
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