Re: Short Interest Drops
in response to
by
posted on
Apr 11, 2008 04:13PM
SSO on the TSX, SSRI on the NASDAQ
i don't know what the next catalyst to move the stock price will be. the pan canadian committee may come up with a resolution enabling the company to recover some or all of the remaining $45 million locked up in asset backed commercial paper, but that is just speculation on my part. given the company's strong cash position, i don't even think that's much of an issue, but the market may think so.
we should get an updated resource estimate this quarter from pitarrilla where they are working underground, and that could be a good surprise. later there will be a production decision on san luis, and pirquitas is scheduled to be commissioned in the fourth quarter. and of course, the price of silver can do whatever it feels like at any time.
some of these things should move the stock price, but i don't know if any of them will. i gave up trying to trade this stock and predict short term movements many years ago. but when you get frustrated and tired of sitting on it, that is when the stock will move. so i only deal in fundamentals now. there are funds that are not allowed to buy mining companies which do not have production and revenue. once pirquitas goes into production, sso will have access to investment by those funds, and i expect the stock price will benefit.
other informed opinions are certainly welcome.