Let them (the shorters) burn, I say. I'm going to enjoy every moment of it.
To me their deadline for exiting the play is 3 months. The next quarterly update (probably annual) is due out then, and undoubtedly the share price will jump as the project de-risks. Interesting challenge, right? Unloading $400 million shares in less than 3 months, without affecting the price too much. It's doable I guess but get it wrong and you have a short squeeze.
Having said all this, I should be grateful to them for giving me the opportunity to top up my holdings with shares for $2.xx, which I did several times. Without the shorters this would never have happened. I should be grateful but I'm not. I'm planning on doubly screwing them. My plan goes like this - wait for the short squeeze, sell into it, then buy back after the squeeze is over. Play my cards right and I might just be able to double my holdings. That would be nice.
BOE Price at posting:
$3.95 Sentiment: Hold Disclosure: Held
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