Obscession with short volume is pathetic.Almost none of recent posts on this subject are based on facts or reasonable extrapolation. The one true fact is that this will be resolved in one of two ways. Either future financial results from PVG will be so impressive , that the shorts wil fade away with substantial losses, or their beliefs will be vindicated....... probably before xmas 2018......and they will continue to make large gains on their bets.
I personally believe Q2 has a good chance of improving on Q1 numbers but to what extent ???. To improve Q1 numbers to say , 100,000 ounces would require an increase of head grade to around 13 grams which is certainly not an unrealistic goal, especially given managements recent optimistic statements re improving grade control etc etc.
Howver lets not forget they really had to push tons thru the mill in March in order to come in at the low end of guidance. What will the market reaction be to perhaps less than stellar results in Q2??
And very soon , we will be seeing how they propose to refinance approx $260 million in debt before xmas. Yes they can pay a 2.5% penalaty for the priveledge of delaying this for 12 months , but the existing cash, plus any reasonable allowance for future cash flow over the next few months doent come close to 200 million. This is , I believe , what is driving the short interest.