PREMIER GOLD: SHORT INTEREST UPDATEShort interest fell by 1,095,575 shares in the most recent two week reporting period.
This is the largest decline since September of last year.
Total short interest now stands at 10,423,885 shares.
Asssuming 1/3 of average daily volume seen over the past few months it would take approximately 42 days to cover (10.4mn/250k).
Note that yesterday RBC was crossing 100k+ share blocks of stock, mostly with Cannacord, and Premier closed flat on the day when gold was down > 2%.
As highlighted in recent press releases, both the Equiniox acquision and I-80 spin-out are expected to conclude by the end of March at the latest and could be earlier. If these are a catalyst to cover shorts, there could be some tailwinds on the coming weeks.
Short data: https://www.iiroc.ca/industry/marketmonitoringanalysis/Pages/consolidated-short-position-report.aspx
GLTA!