BUZZ-Fresnillo: feeling the squeeze

** Rally in silver sees heavily-shorted Fresnillo facing a further squeeze upwards, traders say

** Precious metal miner closely correlated to silver spot price, that has rallied 11.5 pct since Nov 5

Chart: http://link.reuters.com/zum63w

** Further rise would put additional pressure on short-sellers, who have been dialing down exposure in recent months

** Utilisation rate has fallen to 23.2 pct from 31.5 pct in October, but still fifth highest figure in FTSE 100, according to data from Markit (average utilisation 2.7 pct)

** Days-to-cover figure of 13.2 also one of the highest on the index

Markit (NasdaqGS: MRKT - news) data: http://link.reuters.com/dym63w

** Broader mining index rallied after a surprise rate cut from PBoC on Nov 21, but is down 13 pct since then

** Speculation of imminent Chinese RRR cut could see support for mining stocks

(RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)