Some would have been holding based on the announcement by FGE on...

Some would have been holding based on the announcement by FGE on the Roy Hill project, that they had believed they had the 2 power stations accounted for and that they would be moving forward in positive steps based on the order book and diversity of their operations.

I don't think you can blame people for some optimism, especially considering there are holders who even with the run back passed $1 where still well in the red. However it was always going to be a long rebuilding process, regardless of what the share price was doing, the run up was pretty quick for a company that had re forecast their figures down heavily. The recent news on more costs with the 2 power stations should have been the final red flags, and any run north should have been taken with care because it just is too much uncertainty.

The future of this company is in the balance of a major financial backer, but the overall operation will be looked at in depth I'm sure to see if the order book offers enough forward value to make up for the near term losses, and the risks of any more potential cost blowouts.