There is no limit % at which a shorter has to cover.
It all depends who they are, if they are an individual investor as long as they have enough cash in their account to cover the shortfall they can keep going with the short.
As many of the short positions would have been taken at a much higher level most are likely still in the black.
If its hedge funds holding the short positions they can keep going as long as they like (unless the company is taken over).
Ann: Pilbara Declares Commercial Production, page-25
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