Similarly learning about it in practice, but from what I can...

Similarly learning about it in practice, but from what I can observe to date, it seems the shorters are borrowing the shares from Regal (assume they pay a fee to Regal for this loan) and they slowly sell the shares in some proportion to non-short sales (looking at the recent ASX daily short sales reports for ZNO it seems around 12% (1/8) of daily volume, give or take). I assume they do not simply dump them all in one go in case the support level is high and need to buy back at higher prices.

Happy for anyone more experienced in shorting methodologies to add some details so we can better understand the impacts on ZNO SP and what may lie ahead.