I am against short selling too but you have to ask yourself this question:
Why was it that LYC had a stable price of around 30c and after the project update announcement and the covertible bonds announcement this has nearly halved?
In my opinion and it seems a lot of people's opinion, LYC might not be able to fully fund the development of their project.
LYC has a good business case with the REO but in this climate when it is hard to sell products and borrow money, there is always a chance that the company might be able to startup before the storm is over.
I think their remuneration policy does not help their cause either. They are issuing too many shares and options to their employees. I don't think any other junior miner is doing that.
P.S I used to hold shares in LYC
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Last
$6.74 |
Change
-0.080(1.17%) |
Mkt cap ! $6.300B |
Open | High | Low | Value | Volume |
$6.83 | $6.85 | $6.67 | $15.08M | 2.242M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 70897 | $6.74 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.75 | 3296 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 70897 | 6.740 |
1 | 297 | 6.720 |
3 | 4155 | 6.700 |
1 | 14985 | 6.690 |
5 | 19981 | 6.680 |
Price($) | Vol. | No. |
---|---|---|
6.750 | 3296 | 2 |
6.790 | 3000 | 1 |
6.830 | 4565 | 2 |
6.880 | 500 | 1 |
6.890 | 5190 | 1 |
Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
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