About 1.7M shorts were open four trading days ago on September 16=[Shortman], and yesterday on volume of 2,898,458 only 263,568 short trades were reported [link ASX short data]... less than 10% .
So are the ‘rats’ leaving a sinking ship rather than sitting tight and lending their shares to those jolly rogering shorters?
Blackrock is NOT walking the plank!
It announced it had increased its’ holding [ref] from 5.04% to 6.11% on 09/09/20 (since 18/05/20).
And the new MARRS dockyard has been signed, sealed and delivered...
“..Austal USA is the one of the largest shipbuilders in the United States. The company’s manufacturing facility and headquarters is located on 164 acres of land on the Mobile River. MARRS is located across the river and will increase the ability of Austal USA to expand its aluminium, steel and repair operations in a vital part of the United States that boasts a rich tradition of shipbuilding and repair work”... [14/09/20]
Plus new management faces up on the poop deck;
- [Michael “Mick” McCormack, new non executive director started 14/09/20] ...after an extensive search . The intentions are that he will take a position in the crow’s nest, with a view to business expansion.
- And just yesterday it was announced [ref] Ian McMillan would be joining the crew as COO from [BAE systems] next January 1.
BUT WAIT, THERE’S MORE...
This morning the WA government announced WA is putting its’ hand up for a slice of up to $75B of Australian defence spend in the next decade with training programs worth more than $18M about to be launched..
$18.34 million package to build defence manufacturing workforce Tuesday, 22 September 2020
Package to help build a pipeline of skilled workers to support upcoming defence projects and enhance WA's capacity to secure future defence work
$8.5 million towards $20,000 incentives for defence manufacturing industry employers to train apprentices in key trades
$2.85 million to create an additional 335 apprenticeships in nominated trades
$3.3 million investment in training and development of new short courses to create a 'defence ready' workforce
Further investment in scholarships for women and Defence veterans, and facilities upgrades at South Metropolitan TAFE
The McGowan Government has announced an $18 million package to build a pipeline of skilled workers in Western Australia to attract defence maritime projects to the State.
This workforce investment will help provide the skilled workers needed to support upcoming WA defence projects and secure future defence work, expected to be valued at up to $75 billion nationally over the next decade.
The package includes $8.5 million for an additional $20,000 incentive, on top of existing financial subsidies, for shipbuilding employers to take on in-demand apprentices in readiness for a pipeline of future work.
The McGowan Government has also allocated $2.85 million to deliver 335 additional apprenticeship commencements in nominated defence trades in 2020-21 to achieve 200 apprenticeship completions by 2024-25.
A further $3.3 million will be provided to create new TAFE short courses to support Western Australians to upskill and become 'defence ready'.
The package includes $800,000 to create two new scholarship programs to encourage women and Defence veterans to take up a career in the defence manufacturing industry.
The program will be co-funded between the State Government and industry, with each party contributing $5,000 per scholarship. It will create 20 scholarship opportunities per year for both women and Defence veterans.
Equipment will be upgraded at South Metropolitan TAFE, to assist with training students in defence-related industries.
Four new computer numeric control milling and lathe machines will be purchased to train metal fitters and machinists, with workshops customised to accommodate the new machines.
As part of the package, a dedicated defence industry team will be established at Rockingham Jobs and Skills Centre to undertake careers promotion across all schools and provide advice to job-seekers and potential workers.
A maritime defence industries toolkit will also be developed to provide practical advice for job-seekers and a dedicated 'Jobs in Defence' webpage and advertising campaign will be launched to continue to attract more Western Australians to WA's defence manufacturing industry.
(20min delay)