a quick check of the asx short-sales report from yesterday will...

a quick check of the asx short-sales report from yesterday will tell you 1,235,693 shares were shorted during the day (better than 40% of the days volume).

while this may seem unusually high there is a simple explanation ....

if I was part of the investor syndicate with a guaranteed purchase price at 40c don’t you think I might be tempted to short sell as much as I could in advance and secure a tidy profit for no risk ?

this is but one of the many reasons I can think of that will check any short/medium term price gains. I got in at 50c as a short-term gamble but with the massive debt and dilution undertaken by management for a project still 2 years away from delivery which itself could encounter any number of tangible risks, I see no reason to expect any return and will happily sell if the sp ever gets back to my entry price.

nothing wrong with hope & dreams but facts remain facts through it all.