We would think yesterday volume 8,550,142 shares would mostly due to shorters buying back ?!
Wrong !!
They actually shorted more yesterday to the tune of 3,187,077 shares.. That is about 37% of yesterday traded volume. http://www.asx.com.au/data/shortsell.txt
It is obviously big boys arbitrage play. Most likely convertible notes holders expecting cheaper placement of shares when move to Singapore.
I guess shorted position will be cover when Resolutions 2 & 3 are approved..LOL.
Small investors like us cannot win on this game...
LNC Price at posting:
$1.29 Sentiment: None Disclosure: Held