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In a surprising twist, Carson Block—founder of Muddy Waters Capital and famed short-seller—has taken a rare long position in Canadian exploration company Snowline Gold (CSE: SGD). Known for exposing corporate frauds, Block’s bullish stance on Snowline has investors and analysts buzzing.
Why a Short-Seller Is Going Long
Carson Block built his reputation betting against overvalued stocks like Sino-Forest and Luckin Coffee. His pivot to a long call on Snowline Gold is highly unusual.
In a recent interview, Block praised Snowline’s management team, disciplined execution, and high-grade gold potential at its Rogue Project in the Yukon.
“This is one of the few times I’ve seen an early-stage mining company with this level of geological upside.”
— Carson Block, Muddy Waters Capital
What Makes Snowline Gold Stand Out?
Snowline Gold is a junior miner with promising gold discoveries in Canada’s Yukon. Block’s endorsement may be driven by:
- High-Grade Drill Results – Recent assays suggest a large, high-grade gold system.
- Experienced Leadership – Geologists with proven Yukon success lead the company.
- Undervalued Stock – Snowline’s ~C$300M market cap leaves room for upside.
Market Reaction & Skepticism
After Block’s comments, Snowline’s stock jumped 20%, but analysts urge caution:
“A short-seller going long doesn’t make it a sure bet. Exploration-stage miners are volatile.”
— Priya Kapoor, Canaccord Genuity
Block acknowledges the risks but calls the risk-reward balance “compelling.”
What’s Next for Snowline Gold?
Key catalysts to watch:
– Upcoming Drill Results – Expansion of known mineralization could boost confidence.
– Potential Partnerships – A major miner’s interest would validate Block’s thesis.
– Funding Strategy – Avoiding excessive dilution will be critical.
Conclusion: A High-Stakes Bet
Carson Block’s long call on Snowline Gold has thrust the company into the spotlight. Will this mark a strategic shift for Muddy Waters—or remain a rare exception? Investors are watching closely.
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