Unethical Financing Activities
Don't dimiss tandemicco's theory on naked shorting to bring this stock price down too quickly.
I was listening to a large U.S. investor a while back who expressed his outrage to what he considered criminal manipulation of junior resource stocks on our Venture exchange around periods of financing. He explained how our investment banks will collectively drive the price of a junior stock down during this time for the sole purpose of forcing a cheap financing that they will later profit from.
He listed naked shorting as one of the tools they use to do this. He also voiced his distain at Canadian regulators which he says simply turn a blind eye.
Why else would we hit a 52 week low just before the most important time in the company's history - spudding its first well in Iraq?
Greg