Athabasca Oil Corp T.ATH

Fighting the Shorts

[retiredcf]

Table 2: Top 10 short positions for mid-caps (Aug 27)

Table with 3 columns and 10 rows.

	Nexgen Energy Ltd.	NXE-T	12.1%
	BRP Inc.	DOO-T	10.1%
	Peyto Explor. & Dev Corp.	PEY-T	9.4%
	Athabasca Oil Corp.	ATH-T	9.2%
	Baytex Energy Corp.	BTE-T	9.0%
	Canadian Tire Corp.	CTC-A-T	8.7%
	Lundin Mining Corp.	LUN-T	8.1%
	Northland Power Inc.	NPI-T	7.3%
	Bausch Health Cos Inc.	BHC-T	6.4%
	Equinox Gold Corp.	EQX-T	6.3%

[cahclick]

  Anybody have an opinion on why the short position remains stubbornly high on ATH ? The short position has run between 7 & 8 percent of float since I bought in Jan 2021. It was suggested at one point that the refi warrants attracted shorts but the warrants are all but paid out now, plus ATH has had an NCIB running for two years, just got a $200 million UNsecured line of credit to

[matt2018]

Good question. There are many poorly run companies in the space to target. This is not one of them. The warrants have been an overhang for quite awhile now but they have been addressing that about as aggresive as you can. The positive to this, is that any bit of good news like rumors of a buyout, increase to the production forecast for the thermal or Duvernay or an oil price shock due to some

[Maxmoe]

It's been covered over and over. Shorts are related/arbitraged/paired against the debt. The gains from the massive warrants package with the debt were locked in using derivatives futures shorts etc. there is no block of shares that are "short" in the sense they will have to be covered by market purchases. The shorts will be covered with the settlement and exercise of the warrants. It

[matt2018]

There are presently over 38M ATH shares short. Not sure on exact number of remaining warrants, maybe 15M to 20M ?