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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)
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To: John Dally who wrote (743)3/27/2002 2:41:00 PM
From: The Barracuda™  Read Replies (1) of 922
 
I don't know anyone's trading strategy. But I can say that those that are issued converts by companies, typically, short the shares of the issuing company. ASL is the owner of the convert which has a 45 cent strike. I think that at a price above 45 cents, the issue is moot, but not before. Selling could be anticipatory of the 45 cent strike in other words,front running.

And as I said in my prior post:

The convert at 45 cents is holding Birim down. Its owner is probably engaging in risk free (they think) shorting of BGI knowing that if the stock rockets, they are covered at 45 cents.
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