there was a decent size short play put on the stock of 430k sometime near the end of Jan and didn't show up on the short report until Feb 15. the short position coincides with the timing of the very aggressive basher campaign in the stockhouse pig pen.
i suspect that a lot of retail holders lost their shares below .80, and from the looks of the trading over the past week, a couple of large players too.
the basher attack on SH was relentless and went so far as to claim that an EC employee had been sentenced to jail for bribery. of course that was completely false. those posts were removed from SH, but not before being copied and reported to 5 separate regulatory bodies in Canada and the US.
it is truly amazing that the regulators do not shut stockhouse down until they clean up their act.
i expect that all the warrants got exercised today, so the company will have just under another $4M in the kitty. More than enough for a much larger program.
i see they announced that they expanded the drill program from 1200m to 2000m in todays NR. very cagey guys, as they have a contract signed for up to 5000m. i would expect them to toss out a few more surprises for the short bashers as time progresses.
if u are new to the stock, read the mgmt and BOD bios on the website. you may get a revelation or two wrt why these guys are bothering with a venture listed stock. this is not the usual venture team of used up geologists, ex investment bankers, computer illiterate accountants, stock chasing lawyers and two bit, paper printing promoters.
sitting on a large chunk of negative cost shares and going to try and trade the ones i got at .68(too early by far but). had a few shakey moments with those when we hit the mid 50's, but held onto them fortunately.
having a few cold ones tonight and chuckling at how bad inkacola Otto Rock's day must have been.
haven't checked their website this evening for core pics, but would not be surprised if they do not hit the website until this weeks institutional roadshow is completed. after all, they have to have something new to show the big boys. |
