RE:Shorts compounding low share price What are you expecting from the reserves announcement? The co hasn't done a lot after selling its main producing asset.
The management has said that it will negotiate and arrange a sizeable line of credit. This will be needed if it wants to develop remaining assets to quickly restore production sold and more. Alternatively, it can sell some non core assets. It has too many loose sections everywhere but probably not the best time for selling as there are few buyers willing to spend cash. I trust, the management is experienced enough and has a good idea and plans for the future. It is also very opportunistic and flexible.
In the meantime, markets are taking a break giving bulls a chance to accumulate this or many other stocks.