Ann: Macquarie Australia Conference Presentation, page-7

Shorts were up over 9% a few months ago so 8% is an improvement. It's a slow moving stock. Solid franked dividends so pays you to wait.. It looked to have some momentum back a couple of months ago upward of $3.5 and then slides back under $3.20. Can't see any reason for it and you can't blame the shorters. They were definitely playing it for the last 12 months or so, but short sales have been low the last month and the overall short position stable, so just general market apathy. At some point it will move. it is a well run business in essentially a duopoly, with above inflation sector growth. Will either be a TO or at the 6 monthly results with a beat and a re-rate. I would have thought there is a good chance of positive news over the next 12 months with combination of drought breaking and Covid recovery. In the meantime it is paying a strong dividend and is so cheap think the downside risk is low. I use it as a place to store spare $ over cash in bank which is losing money guaranteed.