Can't see how shorters can make money at these levels - must be banking on no new major news for another month or two praying on the weak and nervous selling out and just playing the pips in the interim - a dangerous game IMO............time will tell.
Last Thurs and Fri - SP varied between 58c & 63.7 and 59c & 64.5 - I don't think there were many done at the lows or indeed the highs - the end result being the short position increased from the recent overall short position of approx 54m to 69.6m as at the 17th Jan'17.
I suggest a Company defining announcement on Sal de Vida or James Bay will see the 70 to 80c level and possibly higher quickly broken.
Basically a question of "when" not "if" IMO.
GXY Price at posting:
61.8¢ Sentiment: Buy Disclosure: Held