short position taken & company repons

Yesterdays trade was nearly 62% short

3,913,613 at an average of 32.20, thats another 126 Million in liquidity drained, of course thats on top of the other major % daily short sales declared of late.

Some hedge fund has an idea or position that I cannot understand at this time.

Concerned I contacted the Company and asked a number of questions, the Company promtly replied in writing, professional as is my experience

".... There is no information that should be released to the market regarding production or anything else with regard to having a material impact on the NCM share price"..

The release of the updated Reserve and Resource position of the Bonikro operation by LGL yesterday was updating for mining activity since the last update and also increased gold price assumptions. This has no material impact on the NCM share price. I suggest the short selling is driven by hedge funds in relation to the Lihir deal as we approach the June 8 milestone....."



So I thinking what are these ppl doing, what is the "strategy"......Gold is 1460 well above the price last QTR, production seems as usual at NCM so the revenue should be very strong indeed, LGL votes is coming up and if they vote no then the possible risk to intergration is removed and the share price should rise,,(LGL will plummet imo) if they say yes then there is that $85M in improved synergies and lots more resources to mine, and with the deal done and issue out of the way the share price should rise to reflect current market prices........theory

In the near term I cant see why some hedge fund would be betting on a fall............even if NCM suddenly saw another bidder, I wouldnt think the share price would fall?

Any thoughts,,?