Previously they "knew something" so we can't just pretend that we are smart and the shorters are idiots. Not a safe approach.
I will put another speculative idea, which I hope is wrong. There is a quarterly report coming at the end of January. What if it shows no money spent on design (this goes under exploration and evaluation), no money spent on orders for long lead term items (or explains what has been ordered in January past the end of the quarter) but a lot of money spent on admin and corporate costs/marketing/other non productive costs with bank balance much lower than end of September.
If the design has been progressing to get DFS almost ready as we are told there should be a significant increase in design costs. If the long lead term items have not been ordered after granting of ML and the lead time is over 12 months when can we expect production? Was CR last July really needed?
What makes above an unlikely scenario is that shorting happened in October/November before any of the above information existed with possible exception of no progress in design/DFS.
Other possible scenarios have been already discussed so no need to bring these back on good day like today.
We can hope that they have got greedy and went in too hard at the wrong moment.
ADN Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
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