CJG, brokers are only allowed to lend stock on the above approved list. Up until a few years ago it was illegal to lend stock for sale altogether in Australia. The restriction is to prevent price manipulation in relatively small stocks, and there is a limit on how much can be lent of the larger caps as well.
All very civilised.
Anyway, I agree it is a bit of profit taking and its had a good run. There would be traders who would have been able to build up a huge stake at low prices off a fairly low capital base, and it now looks like they are selling a huge huge stake, but it would have only cost them about $20 k when they bought it. Now it takes lots of traders to absorb that stake as it gets sold into the market. Given that, the stock is holding up fairly well.
WMT
western metals limited
