Every time I read these I go looking for the bad news which is driving the short thesis, and I struggle to find anything. The market cap was previously mad but it's much less demanding now at $925M. They have plenty of cash and liquid assets and no debt. Ramp up seems to be going OK.
Paladin (debt/operations), Deep Yellow (lack of funding/progress), Lotus (jurisdiction/ramp up) all have quite major issues which in my mind justify the high short positions, but BOE seems to be the one who consistently delivers yet is punished the most. Quite strange to watch it all unfold... 25% held short is just a crazy number.
Anyway, kudos to Duncan for YOLOing out >70% of his holdings at $5.63, that was the biggest BOSS move of all.
BOE Price at posting:
$2.23 Sentiment: None Disclosure: Not Held
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