"So what happened in May had already been prepared for on 31/3/2017"
Yes and probably a lot longer with smaller parcels borrowed. These guys take up their positions long before their research is released.
If you look under QIN's previous ticker (TFC) in Shortman you will see an "alert" on the 22/3/17 showing gross shorts of 2 mil odd shares. You can also see from the graph the slow rise in the number of shorts. In January this year the following article appeared in AFR, mentioning "Another high-conviction short for Totus is sandalwood firm TFS" So Glaucus and Viceroy were not the only ones.
What the short-sellers have in their sights in 2017
http://www.shortman.com.au/stock?q=tfc
http://www.shortman.com.au/stock?q=qin
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