I wouldn't call 0.2% of the total SOI turned over (in a day) a sell-down.
As mentioned a couple of weeks ago, both the reserves estimate and assays are being done externally, so they are completely out of the hands of EAR management. Once they receive these results, they are obliged under ASX disclosure rules to release them to the market, pronto! My understanding is that the assays are still in the lab and the reserves estimate is still a week or two away. Critical to get the latter right. Not long now.
I'm not concerned in the slightest, as this is a medium/long-term hold for me. I suspect a few holders are planning on selling the news, so are getting somewhat impatient. You always get a few placement holders bailing for a dime, however, I am led to believe that most are sticky here. You would think that most of the new instos that jumped on board at 22c are wanting to see this well north of 30-40c to make it a worthwhile investment. That is pretty much my thinking as well.
EAR Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
