Charlie, there is a snippet from an AFR article (I see you read...

Charlie, there is a snippet from an AFR article (I see you read the AFR), on Cudeco and shorting. I can quote some of the article under fair use, as it is a long article, and discusses other companies. Here is the bit on CDU:

http://www.afr.com/p/business/companies/sunbird_takes_flight_on_sa_energy_kOxyyGE4RfWyFmQ8yzho3M

McCRAE NOT SHORT OF CHEEK

Cudeco chairman Wayne McCrae’s extraordinary call last week for the Australian Securities and Investments Commission to exempt his copper developer from being targeted by short sellers deserves a follow-up.

ASIC publishes daily lists of reported short positions as a matter of course and based on recent numbers, Cudeco is far from the worst affected stock on the Australian Securities Exchange.

On June 25, 2.36 per cent of the company’s issued stock was reported as short. This compared to 17.25 per cent for Fairfax Media (publisher of The ­Australian Financial Review), 16.24 per cent for JB Hi-Fi,14.34 per cent for Myer Holdings and 12.13 per cent for Flight Centre. There are several more in ­double figures.

An ASIC spokesman confirmed to Blue Sky that the market regulator has the power to exempt a company stock from being sold short if it is deemed to be in the interest of market integrity.

From an outsider’s perspective though, it appears McCrae has a battle on his hands convincing ASIC to take up his cause.
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