UPDATE: Silvercorp Up, But Off Day Highs as Says Turns Corner on "Short and Distort Manipulation Scheme"
Silvercorp Metals Inc. (SVM.TO), following yet another false and misleading internet posting yesterday by the fictitious and anonymous Alfred Little, posted an open letter to its shareholders that addresses recent allegations made about the company. "All of the allegations made against Silvercorp have been anonymous. All of the allegations are baseless and designed to be manipulative," said Rui Feng, Chairman of Silvercorp. "While new attacks will keep coming, as is the past practice within the short and distort industry, with this open letter we are turning the corner and putting these allegations behind us." Silvercorp shares are now up just 3 cents at $6.91, having touched a day high $7.07. They opened at $6.79 compared to a previous close $6.88.
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