Pilbara sends mining contractors home, page-294

I think it's worth taking a closer look at the net shorts. See graph below over 1 month (rather than a year). Note:

1) Shorts reduced then increased when PLS was in a trading halt! ie. reporting errors (see 1). The shares they gained in the CR then took several days to report. There may have been some on market covering through this period, but I think the bulk was the CR when considering market volumes on those days and the lack of upwards SP pressure.

2) Net shorts have been very stable for the past 4 days reported (highlighted yellow), so whilst the SP has been in range of 33-35c, shorters have not been covering (or shorting further).

So ... it looks like PLS shorters will be around for a while longer and that they're looking for a lower SP before covering. Also appears that shorters were significant beneficiaries of the CR (guess maybe ~1/3 of all shares issued).