My broker reminded me that they don't trade stocks under $1.00...So if you buy in at $2.85, and it goes below $1.00....well it won't be any more fun. They should have melted down their gold and sold it when gold was $1700.00 an OZ. So when are they going to issue more shares ? They better hurry. Maybe the next big find.
I don't think you have to worry about a 1.00 price on this stock unless everything goes wrong for 5 years. In the meantime, it sounds like you should fire your broker and find one that allows trades under 1.00. Most every broker does. Unless of course your broker is barring you from buying stocks under 1.00 because they just don't want to take the margin risk on an account under $3000.
You'd better buy in now. Your short position could be wiped out in an instant with many potential catalysts.
I was there. Blue blazer, light blue shirt, second row. All I heard was that Explorer will leave for warm waters, if no decision by October, assay results coming soon, lots of projects lined up in $50M range over next three years. Blah, blah, blah, same old song and dance. I think the volume yesterday was Duetche Bank getting out.