Yes, since 6th October they have added 10.088m shares on the short side whilst the MML share price has averaged A$0.63. So approximately A$6.259m of sales are now under water with today's SP at A$0.745.
The total short position of 20.789m shares constitutes a significant amount of trading volume when the average ASX volume for MML since 6/10/14 has been 2.4m/day.
With LBMA Gofo rates negative out to 6 months and gold in backwardisation for a considerable time now, the stress between the heavily leveraged paper market and the underlying physical demand is apparently starting to pressure the LBMA & COMEX. Meanwhile the Chinese wholesale market keeps sucking in c. 50t of the real stuff per week.
We shall soon see if a potential up trend in gold starts to put increasing pressure on those who are heavily short the miners.
CPDLC
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