SPR 5.51% $1.25 spartan resources limited

Speaking of spanners in the works, was looking at something else...

  1. 5,624 Posts.
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    Speaking of spanners in the works, was looking at something else and found this:

    On Mon 16 Apr, the day SPR announced the Pepper discovery, short interest was 0.19% being 1,816,235 shares.

    On Wed 18 Apr the $80M insto placement of 119m shares @ 58 cents was announced, and completed on 22 Apr.

    One month later, on Wed 15 May, short interest had risen to 0.64% being 6,933,952 shares.

    Between 15 May and 7 June ALL the shorts covered to effectively zero - 44,927 shares.

    Meanwhile, in the space of 6 weeks between 7 June and 24 July the SP gained nearly 83% - 73 cents - $1.33.

    3 days later on 27 July RMS announced their initial 98M/8.93% shareholding.

    Current short position at 2 Aug is 173,722 shares.

    Just thought it interesting considering how it all played out.

    https://www.shortman.com.au/stock?q=spr


 
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