Go back to May '14 and have a look at the shorts, up to that...

Go back to May '14 and have a look at the shorts, up to that point. Then observe what happened after that. In May '14 TFS, issued a placement to institutions, many of whom, had never been shareholders. Probably many of them were aust. Super funds.

The top 20 shareholders (except F.Wilson) increased their holdings from 35% to 50% of TFS. The warrant holders & hedge funds, suddenly had a willing supplier of stock to short, and the price of TFS HAS STALLED FOR THE LAST 2 & 1/2 YEARS