Great Panther Silver Defends Itself Against StreetSweeper Allegations
Nicholas Donato, 02 May 2016
Earlier Monday, TheStreetSweeper issued a report saying Great Panther Silver Ltd GPL 0.13% was an overvalued mining company set perfectly to “cave in.” The notable short seller listed six items they believe warrant a drop in current shares.
Enlisting National Inflation Association to promote the stock. Rodman & Renshaw raised their price target from $1.10 to $1.50 per share, and then financed a deal for Great Panther six days later. The lack of institutional interest in the company. StreetSweeper believes it’s “fool-hardy” to risk millions without reserve estimates for any of company’s mines or projects. The market missed a negative news event where the company dropped out of a key project, the Guadalupe de los Reves. StreetSweeper believes even a slight pullback in silver would have a drastic effect on Great Panther stock price.
