Total short position on the 23rd March was Column 1 60,564,497...

Total short position on the 23rd March was

	Column 1
1	60,564,497

MGX is No 32 most shorted stock on the ASX and the total short volume currently is 5%
1,210,568,033 total shares, shorted 60,564,497 = 5%

The problem for shorters is that I deem it impossible for shorters to make a profit unless
1) MGX has a dreadful March qtr and cash balance goes to zero ( big sell off)
2) MGX needs to capital raise at less than 45 cents
3) MGX goes into administration and shares become worthless.

I really doubt any of these scenarios will happen, on the otherhand the longer the shorters keep an open  position then the potential to be severly burnt is more likely. If MGX starts shipping 65% IO at the rate of 3 ships per month then the shorters will find it very expensive to unwind their positions.