I think they "want" to close the positions "BUT" with the tight register and very low sell depth they are playing games and delaying what's imminent with a hope that there will be some sort of window (a day or two with negative sentiments).
GS even tried to spread misinformation that current IO rally is unstainable etc etc...
When the shorts were selling naked - Likes of L1 Capital and long term shareholders with a good understanding of MinRes business were on the other side of trade. That's a bad news for Shorters because they need to pry open 18 million shares from grips of people who wont sell them for $40 or $50.
This gets ugly if IO stays above 100 and there is no major ramp up issue.
$100 share price, page-644
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Last
$40.61 |
Change
1.210(3.07%) |
Mkt cap ! $7.980B | |||
| Open | High | Low | Value | Volume |
| $39.40 | $41.15 | $38.43 | $124.1M | 3.104M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 521 | $40.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.73 | 100 | 1 |
View Market Depth
| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| MIN (ASX) Chart |