Is this Takeover positioning?

Why did the director buy heaps around 1.40, there was that dump then came back up again, then the shorting began. Maybe someone's interested in taking them?


On 19th Sept company confirms shorter trying to reduce the stock

Westgold Resources Limited
ABN 60 009 260 306
Level
6,
197 St Georges Tce
Perth WA 600
0
PO Box
7068
Cloisters Square WA 6850
T: +61 8 9462 3400
F: +61 8 9462 3499
E:
[email protected]
W: www.westgold.com.au
19 September 2018
Daniel Nicholson
ASX Limited
Level 40
152-
158 St Georges Terrace
PERTH WA 6000
By Email:
[email protected]
Dear Sir
Westgold Resources Limited
Price Query
Westgold Resources Limited (
ASX:WGX
) (
Westgold
or the
Company
) provides this response in
relation to the ASX’s letter of 19 September 2018 regarding the change in price
and increase in
volume
of the Company’s securities.
In response to the questions detailed in the ASX’s letter, Westgold advi
ses as follows:
1.
Westgold is not aware of any information concerning it that has not been announced to the
market which, if known by some in the market, could explain the recent trading in its securities.
2.
Not applicable.
3.
Westgold has identified that
the increase in volume has coincided with an increase in the short
position in the Company's securities. Westgold believes this may be attributable to planned
re-weighting by a
n international
gold exchange traded fund.
4.
Westgold confirms that it is in compliance with the
Listing Rules and, in particular, Listing Rule
3.1.
5.
Westgold confirms that this response has been authorised and