Boss Energy was 13.58% shorted on 30 September, 56,391,194 of 415,198,998 shares in ASIC's daily aggregate file. Among ordinary shares in that file, only DroneShield at 15.07% sits higher. R1 Shorted's four-week change for BOE is +3.67 percentage points, the largest build among the 16 stocks shorted above 10%.
The position has made more than a round trip. It was 11.96% on 1 July R2, fell to 8.46% on 26 August R3, and stood at 10.09% on 17 September. R4 The next day's file showed 12.75%: 52,922,724 shares against 41,895,507 a day earlier, an increase of 11,027,217 shares in one position date. R5 That jump came three days after the company's 15 September Market Day webcast; the file records the position, not the reason. 6
Shorted puts BOE's days to cover at 7.8. In the W40 report, BOE was third at 13.19% on 28 September, behind Lotus at 13.26%. Two position dates later it had passed Lotus.
The August low came the day before the company's 27 August results and new Honeymoon feasibility study. The study plans about 13.8 million pounds of drummed U₃O₈ over a nine-year mine life running to FY2035, peaking at 1.9 million pounds a year from FY2030, with a life-of-mine C1 cost averaging $50/lb. FY2026 production was 1.407 million pounds at a C1 cost of $39/lb, and the year ended with $207.3 million in cash and liquid assets, $116.3 million of it uranium inventory at book value, and no debt. R7
Honeymoon's own resource is 20.8 million pounds. Gould's Dam (33.1 million pounds) and Jasons (12.0 million pounds) sit outside the study, "subject to separate studies". R7 At the Market Day, management framed the two deposits as options to evaluate rather than committed projects, inside a plan for a larger, lower-cost and longer-life business. 8
Peter Botten commenced as Chair on 30 September, succeeding Wyatt Buck, who stays on the board as an independent non-executive director. Botten was Managing Director of Oil Search from 1994 to 2020; the transition was first disclosed on 3 July. 9
Macquarie Group became a substantial holder on 22 September with 21,276,954 shares, or 5.12%, under a notice dated 25 September. Of those, 12,614,905 are controlled by Macquarie Bank through stock borrowing and lending arrangements. 10 It is a disclosure of control, not of any short position, Macquarie's or anyone else's.
Lotus Resources was 13.53%, Paladin Energy 11.36% and Deep Yellow 8.65% on 30 September. R1 Paladin's shares were down around 17% in the week to 16 September. 11 A later report tied the slide to a research house that did not expect Langer Heinrich to run at its full nameplate rate for an entire year and trimmed its longer-term production forecasts. 12
A reported position is a count, not a motive.
ASIC publishes aggregate positions T+4, and the reports do not contain short seller details. R13 A reported position is a count, not a motive. It cannot separate a bearish view from a hedge. A crowded position is not a squeeze; that needs buying the file cannot see. The denominator moved too, by 23,678 shares between the 18 and 30 September files, which barely touches the percentage. R5 R1
The chart is live; the quoted figures stay pinned to their position dates. Later BOE position dates will show whether the rebuild continued. The crowded short breakout screen watches the same names from the other side.
Disclosure analysis, not a recommendation to buy or sell.