Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Metalex Ventures Ltd V.MTX

Alternate Symbol(s):  MXTLF

Metalex Ventures Ltd. is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. The Company’s principal projects are located in Quebec and northern Ontario (U2), Canada. Its overseas projects are located in South Africa, Morocco and Mali. Its projects include Wemindji James Bay Property, Kyle Lake Property, Viljoenshof Diamond Project and James Bay Lowlands Property. It has a 100% earned interest in mineral claims located in the Kyle Lake area of Ontario, located approximately 200 kilometers (km) west of James Bay in Northern Ontario and about 80 km west of De Beers’ Victor Mine. It also has an interest in various mineral claims located in the Wemindji James Bay region of Quebec for the exploration of diamonds and owns 100% of the non-diamond project. It also has a 100% interest in certain mineral claims in the James Bay Lowlands area of Northern Ontario. It has a 70% interest in the Viljoenshof Diamond Project in South Africa.


TSXV:MTX - Post by User

Bullboard Posts
Post by Oregonduckon Oct 25, 2019 6:36pm
121 Views
Post# 30271602

The Lowdown on MTX shorts

The Lowdown on MTX shorts
The latest short position on MTX show 1 million. Who in their fcuking mind would short a nickel penny stock unless you think it is going belly up?? Firstly, MTX is not going bust because it has no debts except loans owing to Chuck who has more money than God. Secondly, no shorter would be able to borrow 1 million shares to meet the "fail to deliver" rule or "IOU's". Under that rule, a short seller has to cough up or return the shares to the owner within one day of a call or demand. Thirdly, while "naked" shorting is legal in Canada, i.e. selling shares they don't own, you would be royally fcuked in a short squeeze. Why? Reverse mergers and reverse splits typically result in a change in the CUSIP, the nine-digit identification symbol assigned to a public stock. Once that CUSIP changes, the naked shorter has no apparent way to close out the naked short position. No stock under the old CUSIP number exists anymore; it all automatically converts to the new CUSIP. ...In summary, I shall confidently posit that the 1 million shorts - Anonymous was the only large seller hammering MTX from 6 cents down to 1.5 cents, presumably, through shorting - was done by Chuck himself by way of shorting his own shares clearing the way for a 1-for-10 rollback. Chuck would then close out his 1 million shorts. Currently, there are 113 million shares out which would shrink, post 1-for-10 consolidation, to 11.3 million shares. I predict he will then raise, say $1.5 - $2 million, in new financing by issuing 10 million new shares to himself, family or friends of the family at 15 or 20 cents to fund the Company........"dooby dooby doo"
Bullboard Posts