Why are Shorts so high and increasing

Hi All, can someone explain why the short sales on GXY seem extremely high and seem to be once again increasing.

https://www.shortman.com.au/stock?q=Gxy


Is it because GXY cost of goods sold seems to be higher than its current net realiseable value (as evidenced by its recent inventory writedowns ), perhaps short mine life and resource dwindling with no profit at current prices, or are there other problems that the shorters have identified?


Anyway the shorters don't seem in any hurry to close out their positions, seems to indicate they are confident the share price has a way to fall yet. I also would be interested to hear from some shorters on why they think it's going to fall further, as they seem to have been more accurate than the "longs" over the last 18 months or so.

Thanks