If any one can explain why PLS (arguably the most successful hardrock miner in the world), has 20% of it’s shares being shorted, I am all ears.
At a guess its because they expect it to go lower. Last FY they averaged $US4447t this FY ending June will likely be closer to a quarter of that. Their H124 NPAT was down 82% and the FY likely more.
In The Dec quarter average prices recieved were $US1113t, the upcoming quarterly will be interesting as it will give the average price recieved for the worst quarter IMO.
Great Company and well cashed up but as a producer earnings count as do dividends...
Cheers Whisky
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