As some of your may know, there's a rather large and interesting short position outstanding on SFR stock. So much so, an Australian contact (I'm uk based and invested indirectly via Metal Tiger) has suggested to me, 'rumour has it' if you like, they are scrabbling about now, even making threats via brokers etc "that they're going to smash SFR" or whatever in the next 3 days etc etc. The only trouble is, they've been saying this now for quite a while several months in fact... And today, it looks to us like, in reality, this short is in fact in a bit of trouble... and potentially deep trouble. The Hedge fund which opened the short a while back - based on quantitative analysis - was expecting DeGrussa's production to decline and the copper price/revenue falls to hit SFR badly, but it failed to spot or account for the huge incoming copper price rally in Feb-May 2021. Further, nor did they anticipate or appreciate the size, scale and speed of Botswana development.... SFR's SP is presently hovering within 10-12% of 52 week highs, forming a nice base and looks set to go higher... THere's also a giant bull flag formed in the monthly and daily copper charts... As a consequence, SFR could easily jump in value, if they're forced to close. And from what I'm hearing, and the context of these slightly desperate threats, I'm getting the impression the tipping point could come fairly soon... good luck all.
SFR Price at posting:
$7.00 Sentiment: Buy Disclosure: Held
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