thanks hoopz not all hero's wear capes

First 84 Last

Share
Profile

Follow
BrIcKyBUM

952 Posts.

49

14/02/24

17:32

Post #: 72407533
Share

Originally posted by HOOPZ: ↑

It looks like the covering was done through the issue of the placement shares (highlighted in green).

Basically we had a long term short positions of 3.4m shares which I believe is mostly from Morgan Stanley. A big chunk of this was put on around $1.30-1.60 from memory (could have been a bit lower). It looks like almost all of this has been covered from placement shares issued on the 6th. We also had ~4m new shorts added after the CR was announced but before the shares were issued (highlighted in yellow). These shorts were also covered by the placement shares. If you look at the broker data for the 6th it was pretty much impossible that the shorts were covered by trading on market because the short positions would have to have been distributed across so many brokers and taken up 60% of trade. If the covering was done on market it is also likely that it would have pushed up the price like you said, so the placement shares seems much more likely as the source of the short covering. There might have been some on market covering but it would have been a relatively small proportion.

At this stage it seems highly likely that this is not a reporting error and that the shorts (both long term and short term) have indeed been closed. We might need to wait one or two more days for absolute confirmation but the reporting errors I've seen are usually resolved in 1-2 days after the event.

Expand

thanks hoopz not all hero's wear capes

GLN Price at posting: 28.5¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

FWD

Queensland's housing crisis an opportunity for ASX builder Fleetwood – and taxpayer cash a safe harbour from the storm

HAR

Termite mounds lead the way to 45ppm uranium for Haranga

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

OBM

Ora Banda sees FY26 gold output jumping to 150Koz/pa following key approval for Sand King

ASX Market Open: Australian futures to rise on strong US performances

There are more pages in this discussion • 84 more messages in this thread...

First 84 Last

Add GLN (ASX) to my watchlist

(20min delay)
Last 16.0¢		Change 0.000(0.00%)		Mkt cap ! $77.01M

Open	High	Low	Value	Volume
16.0¢	16.5¢	16.0¢	$24.20K	148.4K

Buyers (Bids)

No.	Vol.	Price($)
30	1167013	16.0¢

Sellers (Offers)

Price($)	Vol.	No.
16.5¢	453455	10

View Market Depth

No.	Vol.	Price($)
30	1167013	0.160
12	1904330	0.155
22	977941	0.150
5	442700	0.145
11	514700	0.140

Price($)	Vol.	No.
0.165	453455	10
0.170	413093	9
0.175	229402	6
0.180	329699	5
0.185	130000	2

Last trade - 10.53am 11/07/2024 (20 minute delay)

GLN (ASX) Chart

thanks hoopz not all hero's wear capes

Queensland's housing crisis an opportunity for ASX builder Fleetwood – and taxpayer cash a safe harbour from the storm

Termite mounds lead the way to 45ppm uranium for Haranga

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Ora Banda sees FY26 gold output jumping to 150Koz/pa following key approval for Sand King

ASX Market Open: Australian futures to rise on strong US performances

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

thanks hoopz not all hero&apos;s wear capes

Top Stories

Queensland's housing crisis an opportunity for ASX builder Fleetwood – and taxpayer cash a safe harbour from the storm

Termite mounds lead the way to 45ppm uranium for Haranga

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Ora Banda sees FY26 gold output jumping to 150Koz/pa following key approval for Sand King

ASX Market Open: Australian futures to rise on strong US performances

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

thanks hoopz not all hero's wear capes