Warburton appears to be a ligit (at least legally) fund based in WA. Auditor BDO, lawyer DLA piper trustee Primary securities.
The real question I guess is whether that short report is correct; if correct, the shorter is likely to enter this transaction on the back of existing arrangement/confidence the sold borrowed 20M+ can be bought back one way or another; if incorrect, was it intentionally reported wrong which I can imagine will make it more interesting.
Liquidity - 20day average daily vol = 1.5m / $50k, largest daily vol since the stock was consolidated = 25/35M, I guess buying back that short on market will cause some pretty entertaining price action, unless there is existing arrangement for the buy back.
If I were to short this stock of late, I would have to know there is a hell of stock to dump causing quick price drop and I myself have a lot to buy at the same time. Throw the recent placement stocks at 2.5c into the mix, you might see it differently.
POW Price at posting:
3.1¢ Sentiment: Hold Disclosure: Held
(20min delay)
