You do know who these perennial shorts that are now...

You do know who these perennial shorts that are now shortcovering right? - It's the gold miners!

Gold miners are always net short on Gold. This happens because they need to on sell future production into the market (via futures contract - paper gold basically) to fund current CAPEX and other things(wink wink nood nood...). Not only are they short on GOLD, these futures contracts also have a shorting effect on the gold price as it increases the total apparent GOLD available for sale on the market.

Point is you shouldnt be celebrating as NST is potentially one them... If the miners start short covering, bascially not waiting until futures delivery to satisfy the on sold contracts and instead buying it in the current price (short covering) then we will hit a Contango (the price of a future contract on a commodity is higher than the spot price). This is a bad situation for gold miners and it will immediately have a hit on profitability. Watch that AISC to increase in the short to medium term if that is the case which means bad for the share price...