Short sellers

The short sellers are still at 32 million shares. The deferring of production to March 2019 has motivated the real holders to lend their shares to the short sellers to get a return. This means the price action derived from automated trading is to the downside because that is how the short sellers make a bob.
I can only see this pinball game proceeding for another 12-18 months because of the 10% blocking stakes of Gold Fields and Sun Valley. The only change will come when the mine produces and gets re-rated in January 2019.
The management of GOR has found plenty of gold (their expertise) and will find more. BUT they have let the shareholders down with a share price that is still in the doldrums and no key value driver to punch it through at least the $1 mark. The management as a gold explorer has succeeded but the management for shareholder value has failed dismally. To sell 10% of the company at 86c when in fact it is worth $1.20 now and around $2 in the first year of production is a bad corporate decision and has destroyed shareholder value. This management approach has facilitated the leeches to be able to manage around the safety blanket of Goldfields.

Keep the Faith

Gold Investors Unite