and that is a lesson in holding short-term positions - Avoid the...

and that is a lesson in holding short-term positions - Avoid the event risk at all costs

Remember
95% of the acerage is already done
5% is what was waiting on Salta (Catamarca done already)
Money is in the bank - Deal is done! Who ever thought or took positions otherwise is regrettably mistaken.

You simply dont get to 95% for someone to say, no we changed our mind...

As for why the trading halt? 

The POSCO update announcements were done without a trading halt in the past (Nov & December updates)

So therefore this trading update can only be
1) I hope not - the transfer deal has new conditions - think Argentina government doing something.. That would be a bad idea for Argentina and unlikely
2) the transfer is done and the SDV partner is decided.
3) the transfer is done and a capital management strategy is announced
4) the transfer is done and <insert idea of what to do with the cash>

In either instance, it is not going to be "Transfer is done" or "Deal is cancelled"

Alot of deserving shorters are going to get burnt in this rally, as someone who will short stocks my self, i feel that pain but equally anyone shorting gxy with this much event risk was foolish and deserves no sympathy