GRY is being struck by the shorters stick. If it is any comfort, ASIC shows that total shorts have been declining for the last month, so I suspect that they may be unwinding their positions.
As at 29/11 (ASIC is always delayed) there were about 15 million open short positions or about 4% of stock. That had come down form a peak of 5.64% earlier that month.
**What the net shorts are, I can't tell you for lack of available data.
Yesterday 700,000 ( 15% )of the total volume was short selling.
To add insult to injury the gold index is down 1% today and the POG hasn't been roaring along of late.
Short positions are diminishing and lets see if she holds these levels at today's close.
Fundamentals still look very good and I expect a solid bounce. Certainly NOT in the AMX league as they have poor grades nor the AZM bucket because their DFS was a complete let dwown.
GLTA
GRY Price at posting:
53.7¢ Sentiment: Buy Disclosure: Held