Agoracom: Small Cap Investment - Noront Resources - Re: Brokerage Shenanigans/reply from RBC (CIBC EDGE)

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Re: Brokerage Shenanigans/reply from RBC

bushmills

Sep 23, 2008 07:59AM

sambone

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Re: Brokerage Shenanigans/reply from RBC (CIBC EDGE)

in response to

Re: Brokerage Shenanigans/reply from RBC

bushmills

posted on Sep 23, 2008 08:28AM

Hey Bush....I can confirm what you have reported re cash accounts....I just talked to CIBC by phone. First off, they cannot short or borrow from a cash account if the shares are paid for, because they (CIBC) does NOT own them, you do.....conversely in a margin account they (CIBC) actually still owns them, so they can borrow them.....but apparently are required to replace them if you want to sell them.

secondly, CIBC can't short ANY stocks that are below $3.00. Guess were safe .....for now....lol.........cheers........sam...