Update on Short – continuing to cover, page-5

The shorters position seems complex
Their retreat from 50mill back to 14.5m appears to be a vote of confidence in EWCs future.
The relative ease with which they have reduced their exposure suggests holders of a significant number of shares had lost confidence and patience with EWC. If index funds were selling that may have been a stroke of good fortune for shorters when EWC recently came off an index.
Maybe there are holders of 14.5m shares who would sell between 0.35 and 0.55 allowing the shorters to exit at an average of 0.45 without incurring an overall loss on their original position. Then we may not see a short squeeze.
I have been waiting for 2 years to re enter EWC as I haven't yet regained faith in the management to deliver in a timely manner and rectify the current asset to current liability ratio.
Waiken