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Fool UK
Recs
silver is in a longterm uptrend. Silvercorp has been targeted recently by short sellers with rumors (circulating via email) of accounting fraud in China. As a result, their shares are down significantly. Naturally, Silvercorp has denied these allegations in the press. Once this is cleared up, SVM should bounce back significantly.
Still long and strong SVM. I don't think this is a fraud, but rather a well orchestrated short attack. We'll see. At least we'll soon get a divvy -Ex-Div date is coming up soon. Would love to see mgt up their divvy and make the shorts pay. Wouldn't that be a hoot?
you are a crazy man!
ING Direct ShareBuilder
PortfolioBuilder
Silvercorp Metals files lawsuit in New York against stock manipulation scheme
Markets are OPEN: September 23, 2011 9:10 AM ET - Briefing.com
Co filed a lawsuit in New York County Supreme Court charging defendants Chinastockwatch.com, Jerry Katz, Alfredlittle.com, Alfred Little, Simon Moore, and several "John Doe" defendants with spreading "false, defamatory and fraudulent" information about SVM on the Internet and in letters to the media and regulators. Co charged that the defendants did so to drive down the price of Silvercorp's stock in order to make their short positions in the stock more profitable.
KPMG announces results of their forensic accountancy report - SVM is in the clear!
Lots of new buyers entering into SVM now, that it's given a clean bill of health. The shorts still haven't covered yet - there's about 10+ million shares still short (average daily volume according to yahoo is 3 million shares), so we're talking about 3 days worth of covering still left to do! last chance to get in before the short squeeze.