permit to mine, page-29

Hi Mudguts.

As much as I'd like to have conviction in your stock lending theory - there's one part I just don't get.

How can the shorting of the PEN stock NOT end up on the ASX short reporting. Sure, PALA's shares are held by a custodian, who may or may not be lending those shares out to short sellers (under a rehypothication clause or similar).
However, the onus to report the short sales is on the shorter themselves (not on PALA, nor their custodian - Citicorp).

Your theory would mean there there is someone shorting PEN and not reporting it to the ASX as they are obliged to do.

cheers.