My view on the matter is that RRR are selling some to lock in...

My view on the matter is that RRR are selling some to lock in some profit and to effectively pay for their recent JMS investment. I think their longer term plans have been derailed by Mr Tsang coming from left field and this may be the reason why they have turned their attention to another of their neighbours.

The fact that their shares have been absorbed by the market without too much of a drop in the SP is also a good sign.

And yes they may be planning to come in again via the options underwriting, however it is not certain whether their request will be approved and to the extent they have requested; the MDX announcement dated 8 April states that "a number of other parties have expressed interest in participating in undewrting the MDXOA series".

I don't think they have any more info than we do on how the drilling approval is progressing.