GXY 0.00% $5.28 galaxy resources limited

Ann: 2018 Half Year Financial Report, page-139

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    The 72mil represents shares that have effectively been borrowed for shorting but have not as yet been 'shorted.' Thus some 15+ borrower/shorters have borrowed x plus 72mil and shorted x! To calculate x you would need to somehow try and analyse the daily shorting positions - becomes complex.

    No, I don't think that's what the document states. The simple act of borrowing shares does not create a short position, so there's nothing to report back to ASIC. Once you sell some of those shares then you have created a short position of the number sold, which is then reported back to ASIC.

    If you borrowed 1 million shares then that's all you've done, borrowed some shares. If you then sell 50,000 of those shares then you have created a short position of 50,000, and so you must report a short position of 50,000 back to ASIC. If you then buy back 20,000 shares your short position then becomes 30,000, and so you must report your short position as 30,000 back to ASIC. And so on.

    ASIC then tallies all the reported short positions across all companies and produces a consolidated report, daily.

    So those 72+million GXY shares that the ASIC consolidated report contains, and that Shortman graphs, are shares that have been shorted. The report does not contain how many were borrowed.

    That's how I read the document.
 
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