Yet another final approval. I think we can go with Peter...

Yet another final approval. I think we can go with Peter Handley's date... early May.

I believe that you are right Gvan. One Talga shorter has packed up and gone but a second shorter remains and has swung back into action this last couple of days. Plenty more to come. Perhaps until the end of April or when his trading bot struggles to make any more progress.

During April the rewards from the trading bot may not be worth the effort. Until then it will flush out quite a number of small shareholders and at little net cost.

How does he do it?

Refer back to one of the recent shareholder notices from UBS and have a look at the table of transactions.

I'm not suggesting that these are a shorter at work, but they show a trading Bot (as in robot or a computer trading program) at work.

There are many trades per day and are a both buys and sells. It is hard to tell who wins on any one day. in fact it could mostly be a fairly even balance. So what?

In shorting mode the bot looks for situations where a smallish sale would drop the buy price to a lower level which might then flush out a flotilla of sellers some of which would then could then be scooped up by the same bot.

Don't ask me any detailed questions on how this works, I have no experience in preparing and defining the task parameters of a trading bot but have spent many years as a computer programmer. Programming a trading bot is one challenge that I would have loved to have been given when I was younger and smarter.

We possibly have another month of watching this bot at work.