Today, after a very good report, with good production, low costs, etc, and with a gold price of about $930/oz - what happens?
The shorters have a field day! LGL has been pushed down from 2.96 to 2.82 as I write this. Ab-so-bloody-lutely disgraceful! They worry about shorting being targeted against financials such as banks, and the damage that does - hence the shorting ban in the USA. But what about the gold and silver miners such as LGL and CXC? Shorted to buggery, and pushed down relentlessly.
I have long maintained that shorting is immoral - selling shares you don't own (borrowed or otherwise). Action like this merely reinforces my opinion. I don't buy the weasel-worded reassurances of the ASX that shorting is good and makes for an "orderly market". It should be banned - full stop!
LGL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)