Important message to a any company shareholderI have just listened to the "save canadian mining" webcast and they clearly advised any shareholders to call their broker and instruct them to NOT LEND YOUR SHARES TO SHORT.
I have personally called TD BROKER and they told me the bank policy:
1 - any RSP OR TFSA account can't lend any shares
2- same for cash accounts
3- MARGIN ACCOUNTS: if no margin was used to purchased the stock (meaning the bank did NOT lend you any money, then the bank CAN'T lend your shares. HOWEVER, if you DID use margin money to purchase shares, THE BANK CAN AND MOSTLY WILL LEND THEM OUT AND THEREFORE WILL SHORT YOUR STOCK AT YOUR LOSS.
ADVICE
1 - DON'T USE ANY MARGIN ....NEVER. You are giving the bank ammunition to destroy you own stock share price.
2- call your broker and ask them the bank politics on share lending. TD broker did tell me "some" banks may be more aggressive then others and lend them more easily since it does generate many profits ON THEIR OWN CLIENT'S DETRIMENT.
Please pass this around on your other stock boards. We are all in the same boat with Eric Sprott!
Also, the HFT trading is another big problem which hopefully the canadian government will fix fast otherwise they will not get my vote guaranteed. You should all subscribe to SAVE CANADA MINING (free) ....get it straight from ES and others.
Cheers