JNR Resources Inc JNRRF

RE: megphi

[megphi]

If I understand the short position function on Stockwatch, then over 300,000 JNR shares were shorted between May 1 and May 15. And thus they would have been shorted at prices in the low $0.30's. These shorters are now in a position of trying to stop their losses. I don't think this fact was missed on GMP at the close. It looks like they want in very badly, or more likely, they're attempting to squeeze even harder. Zoodninja, great post on uranium pricing. Although, I still think it should have a closer correlation to the price of oil and natural gas. Furthermore, I understand there are potential sales on the spot market in the works from some American utilities for 500,000 pounds for May 28 and 2.1 million pounds for June 1. We should see these newly negotiated contracts reflected in the posted spot price for uranium in the first 2 weeks of June.