Bullboard - Stock Discussion Forum Metalex Ventures Ltd V.MTX

Alternate Symbol(s): MXTLF

Metals & Mining Industrial Metals & Minerals

Metalex Ventures Ltd. is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. The Company’s principal projects are located in Quebec and northern Ontario (U2), Canada. Its overseas projects are located in South Africa, Morocco and Mali. Its projects include Wemindji James Bay Property, Kyle Lake Property, Viljoenshof Diamond Project and James Bay... see more

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TSXV:MTX - Post Discussion

Metalex Ventures Ltd > Manipulative Shorts

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Post by Oregonduck on Apr 12, 2023 1:43am

Manipulative Shorts

It is clear the share price is manipulated to depress the stock. Shorting ahead of a private placement is to entice placement buying below the market price.

Case in point:

Metalex stock was trading around $0.08 when it announced $2 million placement @$0.06 in Oct 2022. Shorts rose to 208,816 on Oct 30, 2022 and 203,816 shorts subsequently covered off on Nov 14, 2022 dropping down to 5,000.

Similarly, in Jan 2021, Metalex trading around $0.10 when it announced a placement of $3.1 million @$0.08 and shorts went up to 205,032 on Feb 21, 2021 which then dropped 168,885 on March 4,2021 to 37,147.

Under IIROC reg., it is illegal to short a stock with prior knowledge of an impending placement. Stock invariably will drop after private placement.

Seriously, some10,000 shares shorted currently worth about $500 means nothing. There will not be any short squeeze.

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