I am surprised that nobody posted the most recent change in short interest but I guess that most who still have a position in AR must have poster fatigue.
Short Interest declined by more than 37m shares to a respectable 6m shares. For the bulls here, you can interpret that as a good sign. For myself who has a beef with "incompetent management", I say thanks for nothing AR Board of Directors.
Next news that should be noteworthy but may not move the stock is 2nd quarter results which I expect to be good on the surface because of the mark to market gain that they should report on their hedge book.
More noteworthy will be the release of the funds from the arranged credit facility which is expected to close by the end of August 2022. Two of the many conditions for the release of funds is, per the news release,
- independent technical engineers and the lenders to complete a detailed review of:
- updated cost to complete estimate and project schedule in respect of the Magino project;
- grade control drilling plan and master blasting plan;
- Magino project operating costs;
- other information reasonably requested by the independent technical engineers;
- evidence that sufficient funding is available to achieve project completion for the Magino project;
So, if the funds are released by the end of August 2022 then one can reasonably assume that the project is on track from both a technical and financial basis. Keeping my fingers crossed (I know great investment strategy) as AR still hasn't released the latest cost update on the project.
I stated in an earlier post that I would be finished with this stock at $1.00 but hoping to be gone before then as I am a buyer in the very low $0.40 range and a seller in the very low $0.50 range. 2 more swing trades and as Boris Johnson and Arnold so aptly put it, "hasta la vista baby".
GLTA