Hi Vidi,Don't forget the TSX fell a massive 756.75 points....

Hi Vidi,

Don't forget the TSX fell a massive 756.75 points. Copper $1.84 pp. Anvil closed down to C$1.85 on volume of 194.69k.
First Quantum closed at C$20 down C$1.80.

The last short positions notice I saw was a decrease of 804,707. But the balance was still 2.8 million shares shorted.

I know Anvil is as tight as a drum when it comes to information. As it should be. I think our falls have little to do with this 3rd Qtr results. Production has been factored in. It's just investor sentiment and the huge drop in the copper price.

The extract below in a Bloomberg article on Glencore shows how much damage is being done to the mining giants. We are just so small, copper significantly down, investors see the DRC as "too hard". This ongoing review has been a sad joke.

We have heard practically nothing on the exploration front for the last 12 months since this review has been active.
Analysts have released their reports but the price still keeps on falling.

Just be ready to pick up some more when we bottom.

All the best.

KKR


Glencore Credit Risk Soars on Mining `Fear': Chart of the Day

By Brett Foley

Oct. 27 (Bloomberg) -- The cost of protecting against a default by the world's largest commodity trader Glencore International AG has risen fivefold in two months as investors run ``scared'' from mining companies, said Jonathan Pitkanen, a credit analyst at Aviva Investors in London.

Glencore is the largest shareholder in Swiss copper and nickel producer Xstrata Plc, which has plunged 74 percent on the London Stock Exchange in the same period. Credit default swaps for Baar, Switzerland-based Glencore's five-year bonds climbed to 1,240 basis points, according to data compiled by Bloomberg.

``It is all fear at the moment,'' Pitkanen said in an interview. ``People are scared and they are running scared from this sector. The market's reaction has been completely overcooked.''

Standard & Poor's on Oct. 14 cut its outlook for Glencore to stable from positive and affirmed its ``BBB'' rating. ``The movement in the spread doesn't seem to bear any resemblance to their credit fundamentals at the moment,'' Pitkanen said.