Could be trader but the shorts have been closing their positions for the last few weeks and today's rise (which hopefully continues) is in line with what most people have been expecting on this board.
If as expected it was the shorts responsible for the spike today they probably bought back 0.8% of their holdings. At a rough calculation that equated to an approximate 1.8p rise. If let's say the shorts reduce their position to 3% then we can look forward to an approximate rise in the SP of another 5p to about 27p. So Tony was right after all!
RE: Over half a percent drop in shorts24 Sep 2024 10:51
Wouldnt be surprised if the shorts have come together and formed some kind of agreement to exit in an orderly way one at a time. The last few weeks supports this with 3 of them reducing one at a time. Unless of course we get good news then it'll be dog eat dog.
Trader, i could be wrong but that Algerian contract has never been disclosed AFAIK except in some press outlets like Meed. SP really would rocket if we get a RNS confirming that win.
Pretty much as predicted. Another extension. This is positive news. Hopefully a solution will be found. Puts further pressure on shorts to exit especially if as PC suggests their borrowing costs are becoming untenable.
Aidans appointment was due to last 6 months so the fact that they're keeping him on longer can only mean he's doing a good job and there's more work to do with respect to the restructuring.