Bullboard - Stock Discussion Forum Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s): RECAF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the opening of Kavango Sedimentary Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. It holds 90% interest in a petroleum exploration license in northeast Namibia and a 100% interest in petroleum exploration rights in northwest Botswana over the entire Kavango... see more

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TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > Number of shares shorted

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Post by dhraja on Aug 14, 2020 5:33pm

Number of shares shorted

Short position is 942,565 shares as at end of July.

Maybe thats keeping the lid on this....

See here...

https://www.canadianinsider.com/short-report?ticker=RECO

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Comment by investor55x on Aug 17, 2020 3:33pm

I don't understand the almost daily buys from "100 TSX Buy-Ins (CDS)" to a much higher share price. Would someone be so kind to explain this to me. Thanks.

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Comment by curious14 on Aug 17, 2020 9:26pm

They are called naked short sales, meaning the seller sold shares which he did not have or couldn cover. The TSX purchase them at a premium price to cover the sales at the expense of the seller becouse the were considered a illigal sale. Certainly not a smart action by the seller, becouse the TSX is watching the shorters now very carefully of the RECO stock becouse it was done several times before ...more

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