Back in IKN224 dated August 18th, your author ran out a list of potential short plays in the junior mining sector (which may be easy to spot in theory, but for this list we limited ourselves to US-listed stocks as they’re much easier for us retail grunts to short in practice). Top of the shop of the nine potentials mentioned was Great Big Pussy Panther Silver (GPR.to) (GPL) and here’s what was written:
Great Panther (GPL): Its 2q13 results (18) were nothing short of horrid and even if it slashes its costs as it says it’ll do in the next quarters, the $3.8m net loss on mine operations and $5.1m (4c/share) net loss (at average sales price of $21.58/oz Ag) point to a company that will make another loss in 3q13 unless silver springs really hard. How on earth this has managed to rally, from 82c on results day to the U$1.18 close of last Friday, even with the silver pop, is beyond my ken. Downside target here is 75c (i.e. 1.0X BV), or 36%.
Friday saw the US listing close at 75c, today the Canadian listing closed at CAD$0.75 (and the US ticker 72c) there. It took a little less than three months.
And while I’m here, a serious question because I honestly don’t know: Are there any other junior mining sector newsletters offering short side ideas? Because if not there damned well should be.