The best way to understand what is going on is to compare to the below. So if you look at a couple of gold stocks PRU, BLK you can see they have been smashed relentlessly. Then lo and behold VanEyk issues shareholder notices in each regarding a reduction in shareholding (to the tune of millions of shares). Now read this article...
So this means that because of these redemptions VanEyk HAS to sell regardless of price and they have to do it immediately. If you are aware of the proliferation of ETF's then you will understand that there has basically been an ETF created for every imaginable asset class you can think of. There are graphite ETFs, lithium ETFs , copper ETFs and so on. These ETFs have little holdings in sooooooooo many stocks and more particularly in little stocks they wouldnt've touched once upon a time.
Funds have been hit with massive redemptions and loss of mandates of late which means you see wholesale and seemingly non-sensical selling all over the place. It has nothing to do whatsoever with a companies fundamentals. It's the curse/opportunity of the modern stock market. One needs to adjust their risk profile accordingly.
MOD Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held