Firstly I am in the top 20,I am confident that the mine will re-open,but like everyone else disturbed by what the land owners may demand, As an ex-broker I am confident that no one is short this stock and certainly not in the millions. As I understand it the ADR programme was cancelled in 2010/11 (probably through lack of interest in the stock) and at that time Rio's interest went up by a little over 1 million shares,which appears to me to be stock held by the agents to facilitate ADR sales..this level of stock would not have been able to be absorbed by the market. There is no way you could be short this long !! Shares held by the nominees would be held either to support ADR's on issue or on behalf of Institutioal holders
BOC Price at posting:
97.5¢ Sentiment: Buy Disclosure: Held
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