Shorters getting burned, page-104

I think you have this wrong @hermans.
The short sell is reported - not the borrowing of stock which may or may not be short sold.

http://www.shortman.com.au/stock?q=gxy

You can see on the shortman site the immediate effect on the sp of a large number of reported shorts and in some cases the immediate effect of covering.

You can also see that the short sale is reported as a percentage of the daily sales.
This is the short sell event that happens on the market.
How would a borrowing event be displayed or even quantified if there was no selling or buying event?

It is up to the shorts, in some cases - depending on the terms of their deal, when they cover.
It is their choice.
Many would now approaching 10c/share out of pocket as there has been very little covering lately and a huge number deployed sub-36c.

They may have their fingers crossed that their current situation changes or willing to play a long game over many months, or trying to remedy their situation by hedging with balancing long plays, or further shorting.
I think they were probably caught out by the early mine opening and were setting positions to hope to drive the stock lower and trigger anxiety about the mine operation.

We are still due a good short squeeze event - and imho - this is a very dicey play for the shorts to be holding out when things have turned the corner fundamentally and technically.