Short Sales - Here is the latest look through, page-6

Yep - as I posted last week accompanied by a list of other new energy related stocks being shorted to a much higher degree. My statement was I am surprised ARU have not been shorted more.

Give something air it will breath. What triggered our shorting from a position where all was positive and finance ann due any moment - primarily the ann of ECE departure and bang from nothing to 2.5% thereabouts. What does that tell the shorts - pretty obvious if ECE have to go that finance is a ways off.
Then after 3 months shorts bobbing between 2.1% and 2.8% it trimmed on ECE sell off closed - most likely anyway and short position reflected such at back to 2.1% thereabouts my recollection.
Then oh 20th June the EDC ann of Canadian "letter of interest" - NAB engaged bookrunners dismissed and Australian banks not financially supportive comment by CEO in Finacial Review and hello - shorts are onto it again in view that financial close "could" be some time aways which was given another boost when the advised June financial close passed with out a whimper into now 2 weeks of July.
Then of course all the while the Chinese gov increasing supply quota's by 20% when market does not justify such and flood markets and push pricing down considerably.

Combination in my view of 3 key issues.
ECE exit ann.
Finance not closed (most important one) as advised and many changes could suggest it is a time aways as these new big 2 financiers will take time - most likely as due dilligence takes takes a very long time. Yes delays happen but not by the top managed companies - one that conveniently raised a whopping 121 million in late DEC 22 at a time they must have been aware the ECE hold was an issue in closing finance and NAB were not progressing.
Chinese gov manipulating pricing and supply chain. Trying desperately to continue its control over reo's for a slong as possible.

Those 3 key issues give the shorts a view that the sp will retreat lower - as it has - some 50% with more possible yet we are no way near levels of other piers for the pending ann's GE and finance one day most likely. If FID arrived first quarter finance arrived by end of June as already delayed but advised - yes then the latest - middle of the year the sp would have been much higher - the ECE exit would have been largely limited and the reo pricing games of China limited as we had finance secured and no production for 2.5+ years in which todays pricing is negligable opposed to say Lynas whom have caveats that kick in to pricing in their sales contracts but nonetheless certainly impacts them.

It will pass - but only on critical announcements - supposedly pending - the circuit breaker i stated we need yesterday am. Or these shorts are going to continue on.

Not sure but I did see Hastings have to scale back plans as they have had troubles re financing and are 300+ million short of what they need. Different kettle of fish anyway as they need to toll treat concentrate - most likely you know where! Because LAMP in Malaysia can not.
What that demonstrates is how important Nolan's is - because these concentrate suppliers and there are a lot shipping to China for refining are screwed on these low reo pricing - what that will impact on concentrate pricing I would suggest is not possible to absorb in mining/processing/shipping concentrate unlike ARU whom will absorb anything China throws at it being all inhouse mine to refinery. And the west know it - the only one in the world to my knowledge - that is what ARU have to offer S Korea - Germany - Canada - with the latter 2 late to the party but significantly they are there - so we wait and shorters play. Wish it would stop raining here haha. Crazy tropical north.