why unloved, page-6

@accaeric
Those "loans from shareholders" are loans in favour of the two JVs, KSC in Indonesia and River Energy in Africa. Since WEC owns the majority in these JVs they are fully subject to the consolidation scope of WECs balance sheet, however WEC are not fully liable for these liabilites, but the JV partners are by 49% each. This should also apply for most of the other liabilities, which come from the mentioned subsidiaries. That's why your calculation is wrong.

Regarding short positions I've seen them jumping up and down in the range of 3m-11m shares within days for two years when I bought my first shares. To give you an example see this chart showing aggregate short positions released by the ASIC from mid June 2010 until early April 2011:

I've also been monitoring the daily short sales statistics published by the ASX and the point is, that there has rarely been enough trading volume to explain these changes in the number of aggregate short positions. So despite I thought these huge short positions had finally been largely covered after the trading halt last month, I now believe these drops and surges in aggregate short positions come from failures to report short positions rather than actually short positions being opened or covered. Most of the time these changes involved far more shares than had been traded in the relevant period and I guess you wouldn't report off-market short sales, would you?