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Kinross Gold Corporation Message Board

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  • mblimon2000 mblimon2000 Feb 16, 2006 1:57 PM Flag

    36 mln shorts in Canada alone

    The total number of shares outstanding is 350 mln. So not counting the shares shorted on the US exchanges and the number of naked shorts, you have already more than 10% of the total outstanding shares shorted. When you take the percentage of the shorted shares on the float, the short position will be most probably 20-40% or higher. That is very high and very unusual IMO. I would like to see how they are going to cover that with a POG which is in a bull market. What I think is that a few of the major shareholders are playing a game around the "accounting issue", which is basically a non-event. That's why I am saying that this is criminal. They will short and short again just to chase out small shareholders. There seems to be no limit to shorting.

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    • There are less than 5m shares shorted in US stock. It needs to be updated but after the smoke clears you can cound on the shorts to begin covering as soon as tomorrow. Gold prices will turn after this consolidation and force shorts to cover. Now is not a good time to bail you should have done it a long time ago. Now is time to buy, on weakness.

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