Ann: Annual General Meeting Presentation, page-106

Kinda looks a bit like stacking to me... stocks that get close to production seem to often get hammered. Got to wonder who would benefit from this though?? If it's any proper long-termer, then they would probably still be well in the green. If it's someone more recently holding, then why would they unload for too much of a loss? There really has been d1ck-all trading below 11c in the last 5 years, so very likely someone would be selling at a loss to do this (ignoring if it could be the Brown's or Aosu selling, but I don't reckon). Could be the hasty Vimson deal coming back to bite them... perhaps Vimson thought they'd get a cracker offtake too and the board isn't giving something away for once (wonder why that is??).

In all likelihood... it could just be someone stacking the sell side and then selling a few hundred thousand shares down below 10c to snap up retail suckers who thinks it's going down. But, why would it go down??? It's only got the Ti offtake agreement and finance to go now, and it is very possible that the two of those will come together, seeing as SMS is now looking to go guarantor for both the refinery and mine site... you don't call someone a guarantor unless you want them to support your debt.