Reconnaissance Energy (Africa) Ltd V.RECO

My concern is that the shorts could have some Namibia

[drunk@noon]

official in their pocket who could impact the companies agreement with the gov't---not nixing the deal, but raising concerns the deal could be altered or impacted, which would raise doubt about the company being able to develope the play. i.e with a billion dollar plus market cap, --some up front money and incentive payments of 20 million or more after the collapse of the stock.
Without something like this, why in h would anyone pick this stock to short. Just listne to STenke talk in a presentation, with his expertisee and past history, lay out the story---how could you bet against this without some kind of diabolical plan you have enough confidence in to risk millions of dollars. It has to be more than extreme ingnorance, doesn't it?

[Buyhigheatchips]

Let's see the next official short positions. This whole thing seems like a tempest in a teacup. 

[Buyhigheatchips]

As of June 4th: RECONNAISSANCE ENERGY AFRICA LTD. RECO TSXV 871746 -1671130 Looks like short interest dropped from last report. Now 0.5% of total float? https://www.iiroc.ca/industry/marketmonitoringanalysis/Pages/consolidated-short-position-report.aspx

[Bpultra]

Yes I think alot of our short short buddies covere on the last down draft ... and looks like they covered befoe the last NR.... now as this report is delayed not to say a bunch didn't jump on again at the 10.50 range... but seems maybe to much beig made out of the shorts... unless the crooks who are using naked shorts do not show up on this report .. and this I honeslty do not know .. maybe

[derpa]

I think this latest report describes the situation in Canada. I don't think naked shorting is allowed in Canada. In the US where it is still (unfortunately) tolerated under the guise that they have to cover within 10 days. So if they want to remain short after 10 days they have to buy back their position and resell the same day. I have been trying to figure out the extent of it using the daily

[Bpultra]

https://www.reddit.com/r/Baystreetbets/comments/m9ll5w/naked_short_selling_is_worse_in_canada/

[peterj99]

"Naked" shorts are illegal in the USA "Naked" shorts have been somewhat tolerated in Canada. I believe that Canada is trying to correct that. https://oilprice.com/Energy/Energy-General/Naked-Short-Selling-The-Truth-Is-Much-Worse-Than-You-Have-Been-Told.html#:~:text=On%20January%2025th%2C%20the,a%20legal%20loophole%20in%20Canada. If anyone knows different, please explain

[derpa]

I don't know about this reddit thread. I asked my broker in Canada a few days ago about short selling in Canada. He said that without a borrow (ie., w/o the shares) you cannot open a short position.

[Seraphim1]

I think you got that backwards . Naked shorts are illegal in the US but not in Canada because there are loopholes. They have rules in Canada, with respect to how many days they can stay naked, but the shorts evade them by moving accounts around and extending the deadline to come up with cash. 

[teheran10]

Not going to happen.