I think its pretty obvious that the shorting is down to...

I think its pretty obvious that the shorting is down to expectations that the SP would drop after the announcement of a revision to the Chinese bid for KAH. I actually expected the crutch to fall out of it today but frankly it's moved very little which is testament to the general feeling that we are nearing the end game, and the Chinese posturing is simply an effort to take advantage of pricing advantages due to event events.

Frankly I don't believe the offer or should I say "possible offer" was ever intended to get up, but rather to encourage a show of intent by RIO. At 2.90 sterling, KAH is still undervalued given the see through price for EXT, and is IMHO, a show of frustration by the Chinese that will ultimately work in our favor, especially since we have a DFS/mining license a few weeks away, a fact that KAH was highly aware of prior to the placement, that effectively gave it and EXT more time to establish these critical price determinants.