General Discussion Topics, page-128261

You’re assuming the ’big end of town’ bought at 18c to go long. The data (and logic) suggests they used the big capital raise in May 2023 to close their short positions - buying back the shares they’d borrowed/sold, bank their profits, and then open new positions to ride it down again. That’s what smart money does when a mining company is struggling with costs and the underlying commodity is sinking.

It’s unfortunate for longs, but that’s what makes a market. Ironically it can be the short sellers who provide the liquidity for a struggling company like SYA to raise large amounts of cash. Without them eager to buy into the raise and close their positions, there may not be too many longs who want to keep throwing money at a cash oven.