Short InterestShort interest climbed in the first half of February from 21,900 as of 1 February to 34,300 as of 15 February.
This is not a very large amount in comparision to the daily trading voloume and not to big a concern. Because the reporting is only bi-monthly it is not know exactly when this increase in short interest occured in that two week period.
If you look at the share price chart you will see that the share price of Orvana dropped the second week of February and just prior to issue of Orvana's quarterly report on 14 February.
One can surmise shorters had anticipated gold would continue to drop as it had been in January and Orvana's quarterly report would disappoint.
As it happened gold prices appreciated. However, when Orvana's quarterly report was released after market closing on the 14th that disappointed it gave shorters an opportunity to cover. We see a jump in volume on the 15th and see an increase in share price the following 3 days 15 to 17 February.
Have shorters covered off all their bets? My guess is they have and we should not see any short selling to hold the price down now. We will know once the short interest report for 1 March is issued.
Here is the graph of the short interest:
https://www.dailyfinance.com/company/orvana-minerals-corp/orv/tor/short-interest
Here is Orvana's price chart:
https://stockcharts.com/freecharts/gallery.html?ORV.TO
Here is the price chart from 24Hour Gold:
https://www.24hgold.com/english/gold_silver_prices_charts.aspx?money=Loonie