Hi Kris!

When the PP was announced this stock was trading around 80 cents if I recall. It is now around 52 cents. Anyone that was shorting aggressively a few weeks ago has made a killing. They can cover today and buy all they want to. Or they can subscribe to the PP and deliver the shares against the shorts, lock in a profit, and hold a free warrant.

I think there has been systematic shorting at work for at least a year. Some of that was related to cheaper financings that were done a few years ago. As long as there are warrants in hand, one can short away and have a route to cover if the trade went sour. Since the entire PM sector has been on its ass for about 18 months. most of the people who have been shorting have not had any presure on them whatsoever to cover.

People often point to the low number of disclosed shorts on the TSX report. Again, that kind of data is easy to navigate around and does not tell the whole story.

Believe whatever you wish. I am quite convinced that daytraders and hostile funds have been running this stock up and down as they please for a while and as long as there are no committed buyers to step in and force their hand, then thats the way it goes. I know of a few retail shareholders that had enough this time around and sold out. I suspect many hundreds of thousands of shares are dumped in disgust with every takedown.

cheers!

mike