Ann: Highly significant gas discoveries at Erregulla Deep-1, page-395

There is zero chance STX remains in the ASX200 with a MC of 500 odd million even with its large free float. The last few times I have looked, the cut off is around 1.5bn. We didn't get flogged on the way in because of the entry, but because of SE2/3.

Effective date for exit is 3rd Friday (20th Sept) after market close. I still think it's the most logical explanation that the shorts were targeting the ASX200 exit all along. It is also no coincidence that the net short position has been slowly but surely creeping up towards the 15% net holding between the three index funds. The exit is the only logical way for the shorts to cover such an enormous position of c.300mn. It would take them months to cover on market, especially if they want to do it slowly so not to disturb the price too much.

SS just announced its ceasing to be substantial notice this morning, and the net shorts also started dropping on the 27th August when preliminary ED1 result was announced. Perhaps the shorts have started covering with the index funds exit seemingly starting already.

At the end of the day, no one really knows for sure when the shorts will cover but it would seem most logical that they cover via index funds exit.

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