I am against short selling too but you have to ask yourself this question:
Why was it that LYC had a stable price of around 30c and after the project update announcement and the covertible bonds announcement this has nearly halved?
In my opinion and it seems a lot of people's opinion, LYC might not be able to fully fund the development of their project.
LYC has a good business case with the REO but in this climate when it is hard to sell products and borrow money, there is always a chance that the company might be able to startup before the storm is over.
I think their remuneration policy does not help their cause either. They are issuing too many shares and options to their employees. I don't think any other junior miner is doing that.
P.S I used to hold shares in LYC
I am against short selling too but you have to ask yourself this...
Add LYC (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$7.85 |
Change
-0.090(1.13%) |
Mkt cap ! $7.337B | |||
| Open | High | Low | Value | Volume |
| $7.78 | $7.85 | $7.70 | $22.48M | 2.878M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2285 | $7.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.85 | 6431 | 1 |
View Market Depth
| Last trade - 16.10pm 05/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |