As long as BRU is under attack from the shorter, the SP will not rise. I have added the available ASIC data to the graph I posted earlier and it is obvious that the shorting has not stopped and as long as the short position increase, the SP will not rise.
I am still perplexed how it is legal to keep the SP legally down by selling shares you do not own, only to make millions when capital is raised. The accummulated short position (which are reported) are now over 18m, and I suspect that those will keep rising until BRU raises cash. The shorter is obviously not in a hurry and having up to 20% of outstanding shares sold short is not unheard of.
So, I am sure we will see more pressure on the SP in the short/medium term, and every attempt to rally will be heavily sold into (see last week). The only positive is that despite increased short positions, the SP seems to hold for now.
The ONLY way that those shorters will get burnt:
1) BRU raises cash through partial asset sale
2) Mitsubishi takes up the option and pay $19m (short term solution)
unless one of those options eventuate I am afraid that those shorters will win, make their cash and move onto the next stock. I so hope that ES will suprise us, and those shorts will get burnt.
- Forums
- ASX - By Stock
- where to from here?
As long as BRU is under attack from the shorter, the SP will not...
-
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BRU (ASX) to my watchlist
(20min delay)
|
|||||
Last
7.8¢ |
Change
-0.002(2.50%) |
Mkt cap ! $52.36M |
Open | High | Low | Value | Volume |
8.0¢ | 8.0¢ | 7.8¢ | $1.992K | 25.29K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 7.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.0¢ | 42995 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 100000 | 0.077 |
2 | 11000 | 0.076 |
4 | 165816 | 0.075 |
1 | 10000 | 0.074 |
1 | 10000 | 0.072 |
Price($) | Vol. | No. |
---|---|---|
0.080 | 42995 | 2 |
0.084 | 73555 | 1 |
0.085 | 7999 | 3 |
0.086 | 9898 | 1 |
0.087 | 163369 | 3 |
Last trade - 14.53pm 13/09/2024 (20 minute delay) ? |
Featured News
BRU (ASX) Chart |
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online