RE:This company You ask who who knows, Sacks, I do.
This price depreciation is 100% the result of short sellers. This has nothing to do with market discovery.
There are market forces, but they are in the hands of short sellers.
Look at the board, nearly every single trade is a short sale these days or a trade designed to assist the short sellers. Only retail buys are not short sales.
There is nothing apparently that can be done about the short sellers.
This is legal and the way to make money on the backs of micro cap explorers and developers in Canada.
I think you are right and I too now am praying for a buyout, and hopefully one not involving of any of the firms involved in the short selling (but his would not surprise me one bit.)
When the trading firms, project financiers and stock exchange owners are all one and the same, and they have lax rules to exploit, how can retail and mine developers pretend to have a chance?
What is happening to GENM happens to nearly every single TSX-V and microcap miner on the TSX and it is caused by abusive short selling that should not be allowed (and be made criminal.)
To put in perspective, shorting of banks was stopped during the 2008 crash, but not for others.
The Canadian markets suffer greatly from this policy nightmare.
(Great paper on that topic here btw:
https://publications.gc.ca/collections/collection_2009/banque-bank-canada/FB3-2-109-23E.pdf )
It is a combination of badly thought out misguided rules put in place without considering all of the consequences.
Politicians and market enforcers do not see the true scope fo the problem and they are unable (or unwilling) to act.
Exploitative short selling oppportunities in such a small market, have now been nnormalised for over a decade with inadequate transparency and meaningless reporting.
In the case of GENM, you can add a lengthy short selling campaign that has all but destroyed confidence in the stock (not the company), and that has resulted in somehow investors accepting market discovery has assigned GENM a most rididiculous value at less than 10% NPV (at this very advanced and positive stage.)
Taken along with the fragmented Canadian stock market across numerous opaque exchanges that facilitate it all, that is why we are where we are today.
Please folks stop asking the rhetorical question why is the stock price what it is. It is not rhetorical, it is all short selling.
This toxic soup is unfortunately par for the course in Canadian stock markets, the normal way to do business and make money for those with access, know-how and no morals.
It has taken me some time to come to this conclusion and I do not know exactly what to do next.
I've laid it out for everyone to see over a number of moths, but what strikes me the most is that everyone is not screaming bloody murder along with me.