The problem for the shorts now...At the end we know the reason for this short play:
1) 1st thought: Equinox need to sell some I-80 shares => with a new deal for Equinox this faded
2) The shorties (always too good informed) knew about the quiet period because i-80 bosses partcipated in the 65mio financing => so they had no fear of a news release regarding new CRD system etc..
3) they thought gold could crash => east central banks were aggressive buyers
4) paycare deal: the payer always fall in the short term => but the deal was too nice (last 20 trading days paycore was lower too) and the terms of the deal are IN FAVOUR of i-80
So the shorties had 4 points on their plus side and started the short...
BUT NOW ??
What is left? i-80 will release one hit after the other, perfect deal with paycore and a mining visit with BMO next week... so hurry up for covering :-)
GLTA