Hey Iron, from my very humble watching of the shortman website. My guess is that shorting positions of over 10% are not related to short term production, but... corporate activity or major funding issues (debt overall etc).
None of these hence to me, are the reason for the shorting. There are some amazing minds on HC, but are likely looking at other stocks, so... my guess is, large entities have got a large position in either WGX or... Karora, but also clearly have realised that RMS are after one/both of these companies, so... they are hedging their bets on the eventual outcome. I averaged up after the big fall in the share price from the downgrade and merger with Karora, because, whilst short term moves may be painful, WGX is asset rich.
I do of course agree with your last sentence. Would be great to see WGX find FY24 with a solid result, versus another disappointing result.
WGX Price at posting:
$2.59 Sentiment: Hold Disclosure: Held
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