RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Short positionI don't care where the next 10% - 15% move is, this is a $2.0+ billion company if they execute on their plans and $2.5+ billion if there's another Hilltop or two with similar grades. Two of the most important rules of investing are don't break the rules, and the other is know when to break the rules (i.e ride for a larger gain). 90% of the stocks in this sector are trades only, occasionally a few come along that are investments.
If I had micro-managed my position in KL or FRU or VEN or any other large winners and growth/discovery stories, I would have missed out on 200% to 300% gains by trying to being cute. There's nothing wrong with trading around a core position, but I couldn't care less what shorts are doing.
I did my homework at C$2.20 - C$2.50 and built a large position, I'm not going to exit my position because some shorts (or maybe longs that hedged) decided to increase their postiions. You're welcome to your own opinion and maybe you'll be right on the next 10%, but the next 10% move in this stock doesn't worry me, I'm more interested in the bigger picture and a 400,000+ GEO producer in Nevada is a $2.5+ billion valuation all day. Great Bear was US$1.4 billion with no resource and no production until 2029 with $800 million in capex spend/permitting work and another 400,000+ meters of drilling to get to FS level. Arizona Mining was US$1.7 billion with no gold just a massive CRD with $800+ million in capex and no production. Fronteer was US$2.5 billion with a single high-margin oxide asset with $400+ million in capex and is arguably the closest comparable to i-80 from a location (Nevada) and future margin standpoint since the polymetallic opportunity could have sub $600/oz AISC.
Why would I exit my position at a $700 million valuation in the early innings of this story when stories with less ounces and significantly more capex & time to production were bought out for double to triple the valuation when they were less advanced at lower metals prices? I got the price and position I wanted to build a nice profit cushion by accumulating into the massive volume dump in September now Im happy to sit tight and top up if we see further weakness.