ALK

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40.0¢ alkane resources limited

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Antipater_100

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17/03/21

12:53

Post #: 51832556
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Originally posted by maplelegion: ↑

Whilst the frustrating robotic short selling techniques continue to persist , the total shorts has virtually remained unchanged in four months ie 5,69% as at 1st Dec 2020 ...5.97% 1st March 2021 . Increased marginally , if you want to split straws.
Given the softness of the entire gold market in this period , the shorting entity is either (a) satisfied with the net position , or more likely b) hasn't been able to weedle out any more stock , with strong holders unwillingly to sell at these prices .
The volume for weeks has been remarkably low ..and the price crept back up to +70c and looks quite stable .
Sure --if the gold price gets crunched again with the US FED and Bullion banks playing the usual cards ( FED announcement tonight ) , further selling could emerge to further accommodate the shorts ....but there will be other buyers emerge at this price to compete with any further shorts.
A couple of Reports published in this four months period ( Ord Minnett locally and Petra out of London ) virtually had the current ALK price very supportable at +/- 70c , with new Boda results being a free kick .
In those four months , ALK has continued with the cut back of CALOMA 2 , an underground drive from Wyoming I to Caloma 2 , started the portal for the underground drive from Wyoming 1 to Roswell/San Antonio --and according to their Reports , has continued drilling south of Wyoming towards Roswell and south of San Antonio .
Further information regards results/progress on those fronts , could come at any time . Whether they are significant or not , time will tell .
Two rigs continue to drill at Boda / Kaiser ...and no doubt current drilling locations significantly assisted by the knowledge from recent drilling .
So there are some very good underlying reasons why the lack of further selling and the inability of the short sellers to gain further ground confirm that this current price level will basically hold ...and steady accumulation continues for the next leg up .
JMHO

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Sounds good. In line with my thinking. Only major market falls may push SP to mid/low 60s again.
I know at least one person that is short ALK and still holds. Hasn’t closed his shorts but is not shorting any longer.

ALK Price at posting: 72.0¢ Sentiment: Buy Disclosure: Held
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Last 40.0¢		Change 0.005(1.27%)		Mkt cap ! $241.3M

Open	High	Low	Value	Volume
40.5¢	40.5¢	39.5¢	$217.3K	543.2K

Buyers (Bids)

No.	Vol.	Price($)
2	8800	40.0¢

Sellers (Offers)

Price($)	Vol.	No.
40.5¢	140277	5

View Market Depth

No.	Vol.	Price($)
2	8800	0.400
4	40797	0.395
2	11800	0.390
2	13987	0.385
15	204898	0.380

Price($)	Vol.	No.
0.405	125421	4
0.410	2439	1
0.420	52000	4
0.425	11463	3
0.430	18900	2

Last trade - 16.10pm 06/09/2024 (20 minute delay)

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