gm all~
no, didn't check out that other stock, just keeping an eye on the SFMI daily short.
It doesn't surprise me that the other one is getting overly shorted, just about all OTC/OTCBB stocks get manipulated daily here in the US, and all we get is a list from FINRA telling us how bad we as shareholders got screwed each day, lol!
I trade and follow the gold trade in the forex, the XAU/USD trade, and the articles that spratnikie and others are referencing interest me alot. So far the fed has kept interest rates below 1%, when and if they decide to finally raise the rates we'll see a rise in the value of the dollar and a slipping of the gold price, as they basically trade inverse to each other, and it will be manipulated to the downside as much as the central bankers can push it. The fed meets every 6 weeks, and they set the rates or leave them unchanged, and have wording in their 'minutes' (the FOMC) that tell whether they expect to raise interest rates or not by the next meeting.
If they do start a raising of rates, and gold correspondingly starts to move lower, SFMI share price may not get affected as say some of the larger ones like Goldcorp (GG), and the gold ETF 'GLD' as SFMI will be doing a buyback of shares and are in the 'growth' stage at this time.
SFMI is in a good position now to take advantage of high prices once they start producing gold from the mill, and 15% of that is to be used to buyback shares, when that bid support comes in the shorts won't be able to drive it lower as the company will be setting there buying whatever is sold, and demanding delivery, lol.
Once they buy what they want, then we can use the adjusted OS numbers and come up with a more specific Book Value for the stock, even at this point though I'd say they are 'undervalued', imo.
Looks to be a good year for SFMI
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