RE: RE: Huge short interestShorting Colombian juniors is a quick way to the poorhouse. The odds are stacked against you considering the extremely good 60% wildcat success rate in Colombia in the last few years. And shorting plays like BWN that have significant upside leverage upon success, is nearly suicide.
You gotta think the shorts were dead certain they were right about Canaguay. Nobody all of a sudden goes short millions of shares just before results are announced when there is no history of shorts any way remotely the same size. Hell, there wasn't a single share short since May.
The timing of that massive short position is hugely suspicious. It was built at the exact same time as the lower zones were testing non-commercial rates or water. Now, who but insiders, would know that? And who else would have the confidence to short 8% of the company without being dead certain their information was correct? Nobody. But or some bad luck (ie success in the Lower Mirador), those shorts were gonna make hundreds of thousands, if not close to a million on the back of their short position courtesy of insider info.
Whoever placed that short position better be contacting his/her attorney methinks...