Efficient MarketsAlvarez,
The reason I feel it could move to $5 or $6 rapidly, possibly in just a day or two, is because current market sentiment assumes continued gridlock in negotiations. That could happen, but if it doesn't, we're looking at a 6 Mtpa high grade copper mine, which will eventually grow to 12 Mtpa. With strong copper prices, shorts will be forced to cover, adding jet fuel to any rally. They would be drowned by the sudden inrushing tide of positive investor sentiment. I've seen this happen before. Shorts don't have any special behind the scenes insight about IVN. They don't know any more than you or I. They just know that in general, delays and failure are common in exploration and mining. Together with very light trading volume, this provides an opportunity to bet against success. It's usually an intelligent strategy, albeit with one potential pitfall. In the event of genuine success, a large short position can quickly turn into a deadly trap. As shorts struggle to escape, it puts strong upward pressure on share price, leading to dramatic price revaluations. If there is a breakthrough in negotiations, and this is far from certain at this point, I would expect this scenario to unfold.