Eric Sprott, Terry Lynch: Mining is Starting to Boom, Reinstate the Tick Test
After launching last November, the Save Canadian Mining initiative has reached a critical stage. (Visit Save Canadian Mining here: https://savecanadianmining.com/)
Founder Terry Lynch said Ontario's Capital Markets Modernization Taskforce is working to update the Ontario Securities Act, and recently released a report covering key issues and proposals.
"There's a lot of good things (in the report). They specifically targeted predatory short selling, which is one of the things we've talked about," said Lynch. "They haven't yet endorsed the reinstatement of the tick test — that's still on the table with them."
Eric Sprott of Sprott Mining is one of Save Canadian Mining's major supporters, and he shares Lynch's frustration with the tick test.
"The regulators should really think hard about this — there's no need for these algorithmic traders and guys flipping for pennies. It's not creating any liquidity, it's stealing from the Canadian investor every day. That's the bottom line," he commented.