thanks Jim, it is amazing what a difference the facts can make...

thanks Jim, it is amazing what a difference the facts can make to investors in this stock so I will share a few more, around supposed short selling, and Cathay selling stock etc.

Per Bloomberg, since 1 Jan not a single top 10 institutional shareholder (including Cathay) has sold a share in their long position, and in fact the largest holder, Blackrock (spread over multiple funds), increased its long holding as at a file date 19/2 (ie. they reported to have bought more on Tuesday).

Per ASIC short position reports, as at 15 Feb the open short position was 1.92m (0.4%), and the average short position since the beginning of the year is ~2.1m shares (0.43%). The low was 1.596m (0.32%) on 4-Feb, and the high was 2.518m (0.52%) on 2-Jan. And since 1 Jan, the largest intraday increase in a short position was ~63k (0.13%), between 4-5 Feb. To put these figures in perspective, the average daily turnover in stock since 1 Jan is about 3.14m per trading day, and since the beginning of Feb it is about 4.4m per trading day. So the reported shorts are negligible.

It is also interesting to note, that since the beginning of Feb the average trade size is only 2,300 shares.

Beyond the reported information, I hope I am right to think, that any broker/s involved shorting without reporting / covering it up, has far reaching implications, so one should reasonably assume it is not taking place.

This leads to the most logical conclusion - the people that are selling are smaller shareholders who are, for example, profit takers (from earlier lows), selling to meet margin calls as the stock drops, or just fearful and cutting their losses.

So, my advice to those who want the stock to go up - stock selling it !

The 1H audited reporting is not a reason to be selling this stock - not even due to covenant discussion, as per below and earlier posts. The company is a little slow on production for well explained reasons, but there is nothing abnormal in that. And please ignore the AFR and Citigroup (Cathay's advisers)! FYI, for what its worth, Goldman revised its price target today and has set a target price at 95c.

Load up people.