RE: News out - financing cancelledGreat move on the part of managment.
Good for Dacha not to sell off for less then NAV. Dacha's NAV is based on real hard commodities in inventory. It is real money not fiat money. It would be crazy to sell off part of it at a 25 percent discount.
Would you give away a dollar for 75 cents?
Given Dacha's real asset value any equity placement should actually be at a premium as it Dacha has appreciating assets.
With no incentive now for any financial house to short ahead of a placement to pick up shares cheap and with 170,500 of the 200,000 short positions as 16 February getting covered off by 1 March there is nothing to hold the share price back from climbing up to its true NAV value.
Today's candle stick was a spinning top which indicates a Dacha had a significant rebound in what was a steep plunge in the TSX today. The decline did not hold and the share price rebounded in the face of fear and panic in the market. This is a bullish signal that we can expect the share price to climb especially with this news release out.
We should expect the share price to do now what it should have when the news of the NAV value was released on 15 February.
Watch for a sharp jump in the share price tomorrow.