Now that margin levels have brokenWatch for the cover trade , most brokerages give a week to post margin (good clients) the pressure will stay on. Inevitably the short book will start to cover probably a dime or so lower.
It is clear management does not know how to manage a market ! Simple announcement like a NCIB or a top notch IR firm engagement would go a long way to mitigate this one way trip so far.
I suspect we trade sub 2 until the next quarter release and clarity on tax position is provided ,
I would also announce a reserve audit with the new infill drilling incorporated to get rid of the perception that we have negative proven reserve value.
Sean wake up there are many things you can do to combat .....would love to know who was in the financing book , did the banker put a scroundrel in the offering?