Hot Lead - I think its a reasonable question that 2ic has asked...

Hot Lead - I think its a reasonable question that 2ic has asked re shorting. This large increase in shorting started BEFORE major market meltdowns in recent weeks. I am not trying to be pessimistic but just be objective here. Rags mentioned he thought CMR was a possible short when trading at 5.25ish a few weeks ago and Oly disagreed strongly. Time has shown you would have made good money shorting CMR in this time.

The announcement on Stamp Duty was apparently imminent - MORE than 6 weeks ago! Its not unreasonable to think issues have arisen here.

I agree that once CMR starts producing its likely to be further de-risked and rerated, however its current schedule is close to a yr behind initial scheduled timings and 3-4 months behind updated production schedules. Obviously we all can rationalise to an extent the delays however lets not count our chickens too early that production will definitely be starting in 8 weeks IMO

Cheers