Short interest, page-6

I agree. The issues for WSA are all Macro and somewhat out of their control:

Phillipines supply.

It appears Duterte is supporting Gina in the long run. What is in it for Duterte? Well clean environment? No! Assets seized whilst Ni price goes up? I think so.
Indonesian supply.

Chinese have spent billions on Indo smelters. They wont like the exporting of raw Ni.

Tesla/ Chinese domestic demand for stainless steel.

Both these areas are hotting up.

WSA:
Now all we need are the microeconomic issues to stack up.
Best grades.
Lowest costs.
Robust balance sheet. (Cash at bank, no debt.)
Profitability weighted to Ni price.

SP can do what it likes in the short term, I'm very happy with this investment.