If you look at the SYR experience then sometimes determined short selling can destroy regardless of FA. It managed to raised the capital to fund their project and look at the shorted volume, kept rising and each time the covered, the price recovered then more shorting.
Now look at PLS and you see the there was a lull and price was 'allowed' to rise early April before the short volume increased. There is a lagged in the short volume report but as a guess, I would suspect the short selling has stopped for now. THERE ARE SEVERAL SOURCES FOR THIS. ONE NOT SO RELIABLE. SOME ARE ABLE TO OBTAIN THE PREVIOUS DAYS RESULTS AND THAT HAS BEEN POSTED ON HC I'M SURE. MY VEIW IS THAT SHORTS WERE QUITE ACTIV TODAY AND MAY WELL HAVE POSED A HIGH PERCENTAGE. HOWEVER I DONT MONITOR THIS AT ALL. JUST OBSERVE ON POSTS HERE AND QUITE CONFIDENT THEY ARE VERY ACTIVE STILL There must be a reason shorters think they can benefit from a fall in the SP ISNT THERE ALWAYS A REASON? BEING TO BRING IN A LOWER AQUISTITION PRICE FOR WHICH AT SOME POINT THEY WILL DO A REVERSE TO PROFIT FROM THE ACUCMULATED LEVELS? and I have stopped speculating and I see the evidence. LET US KNOW WHAT YOU MEAN HERE. Both companies has a value shrinkage withing the same % roughly speaking. GXY a slightly lower hair cut and the short volume is not demonstrating SP is under such intense attack. I DO NOT CHART AT ALL. THE MAJORITY OF TRADERS OF I HAVE PERSONALLY GOT TO KNOW THROUGH VARIOUS PARTS OF MY LIF ARE NOT ACTIVE ANYMORE. THEY NO LONGER SPRUCE THEIR WONDERFUL SUCCESSES AND ARE OUT WORKING QUITE HARD. there IS A LOT MORE DETAIL I COULD GO INTO THERE BUT I CANT REALLY. BUT, I DO CONCEED THAT THESE GROUPS MAY BE TYPICAL OF A LARGE % OF TRADDERS, THERE ARE CERTAINLY MANY WHO DO EXTREMENLY WELL. BACK IN ABOUT 2000, I COMPLETED A SUBJECT ON DERIVITIES FOR A DEGREE. STATS AT THAT TIME SHOWED ABOUT 72% (? FROM MEMORY) LOST WEALTH OVER THE MED TO LONGER TERM. A LOT HAS CHANGED SINCE THEN BUT THE BIG BOYS HAVE MORE TOOLS NOW AND THE LEVEL OF ABILITY FOR THE TRADER HAS NEEDED AN INCREASED SURELY TO COUNTER THIS. THOSE ODDS DIDNT LOOK ATTRACTIVE TO ME, NOR DID I EVER HAVE THE TIME TO WATCH SCREANS. PUTS AND CALLS BURNT ME MANY YEARS AGO.
Chart wise, GXY has the best 'looking' one out of the 3 related and I wonder if the revenue generating margins is making it a bit more defensive from intense shorting attack. FOR SURE AND THE FA IS LOOKING GOOD.
Fundamentally you can see why there is reason for the PLS short attack. Promises broken (PROMISES? OR SHOULD THAT BE INDICATED TIME FRAMES) and now we find the Warden's application is meeting objection from related parties. I AM REALLY NOT SEEING THIS AS EFFECTING THE ML AT ALL. I am not familiar with this application process. Yesterday I posted the order of objective, ML -> BOA -> Finance in that order. WHAT ABOUT IN ONE ANNOUNCEMENT? I am not sure which consumer will sign a BOA without a ML and lock themselves into a risky situation where unforeseen circumstances can make the ML approval a problem in the future afterall it is a legally binding contract. THATS NO ISSUE. MANY COMPANIES HAVE DONE AND SO HAS PLS, AJM ETC. ITS ALL SUBJECT TO CONDITIONS OF APROVAL AND THE TERM WOULD BE "CONDITIONS PRECEDENT". RF HAS A DSO WITH US, THERE IS NO REQUIREMENT FOR THEM TO PAY THAT 10 MIL UNTIL ALL CONDITIONS PRECEDENT HAVE BEEN MADE. ONE WAS PORT CAPACITY AND LOGISTICS TO PORT. WE HAVE ONLY JUST GOT THAT MAYBE.
With a ML to mine and construction, BOA can have funding from prepayment with discount of course to offset the funding shortfall circa $200Mil or even another mix of Cap raising or whatever solution management deems the cheapest option/s. I am just thinking logically since I have never been involved in this kind of process looking in from a retail 'eye' from the outside. So I think a lot of ducks need to line up. HAVNT LOST A PAWN IN THIS GAME YET AND MY ATTACK STRATEGY IS STRONG. I HEAR A "CHECK' COMING BUT MY CHECKMATE IS GOING TO COUNTER THEIR ACTIONS, FOR THEIR FOCUS HAS BEEN OFF THE GAME SLIGHTLY AND THEY MISSED A MOVE. MUSTY WILL NEED TO BE IN REVISION HERE.
Again, the MIN brawl just when it was a seamless exercise of due processes to mine construction delayed as management had to iron out the expensive $ and time of a legal stouch. BUGGER
MIN got what they wanted and they took first shipment of their Spod (?) LEFT LAST WEEK FROM WODGINA so maybe it isn't in their interest to have another producer with an even larger resource mauling the supply side of things? GREEDY BA$TARD ie Make it difficult for PLS to start the BOA/ML/Finance etc....THERE ARE BIGGER FISH IN THIS WORLD THAT WILL LOSE IN TRANSITION FROM ICE. EGO'S DONT ALWAYS HAVE THE TO ACHIEVE ALL THEY WANT. MIN HAS ASSETS FOR SALEIN Li and IM SURE ASSETS TO BUILD AND AQUIRE. WILL THYE DO THAT IN A J/V? THEY ARE NOT ALLOWED TO BUY PLS SHARES UNTIL LATE OCTOBER, BUT I GUESS, HOW STRONG IS HANDSHAKES WITH OTHERS?
All these are speculation and I might be chasing shadows RESOLUTE? NO PLEASE
but as the delays continue you can see why the market will equate delays with some issues that management cannot report without actual facts. VERY TRUE. WE DO HAV A TIGHT SHIP NOW. EVEN TEA LEAVES DONT TALK. The last thing Ken will do is offer a personal opinion perceived to be a factual event and shoot it to ASX announcement each time he sees technicals breaking. KEN MAKES LESS ANNOUNCEMENTS THAN MANY EXPECT AND I THINK AS MANAGEMENT HAVE SET STRICT GUIDLINES FOR THIS AND NOT MAKE ANNOUNCMENTS WITH "SUBJECT TO CONDITIONS" ETC. I suspect last week as 40C broke they had to so something and release that result but I thought it was a day too late as the serious money came stomping at the price. SOME FELT IT SHOULDNT HAVE BEEN RELEASED AS STATED BY SOME POSTERS. IT WAS MATERIAL INFORMATION TO BE OUT IN THE MARKET IMO.
The volume today as really tapered off so I am not into volume analysis to understand what it all means. Good luck. ITS GETTING VERY CLOSE TO SOME BIG ANNOUNCEMENTS I SUSPECT. MAYBE THE SHORTS HAVE NOT BEEN ABLE TO FIND THE WEAK HANDS AND ARE COMPETING WITH REAL BUYERS. YOU WOULD HAVE TO THINK THAT THE TRADERS ARE WAITING FOR SIGNS OF UPWARD DIRECTION (BUT THEY WILL BE CAUGHT WITH A MASSIVE GAP UP WITH NO FA FORESIGHT). SO THE HANDS HOLDING NO HAVE SHOWN RESILIENCE. SHOULD IT GO DOWN ANOTHER 10 CENTS. ILL TAKE THAT AS A BUYING OPPORTUNITY, AND IM SURE MANY WILL. I DO UNDERSTAND YOUR RESPONSE TO THIS AND THE DANGERS OF AVERAGING DOWN. THIS IS NOT "JUST DIFERENT". IT IS DIFERENT. THIS IS APART OF A PARADIGN SHIFT AND PLS HAS THE QUALITY, THE VERY FAVOURABLE LOCATION MINING PRECINCT, AND TO PORT. CLOSE TO CHINA AND STABLE POLITICAL RISK. MOSTLY, CONDUCIVE YEAR ROUND IDEAL MINING CONDITIONS.
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