I still think that ASIC will not do anything and if you want to...

I still think that ASIC will not do anything and if you want to find out more then you will have to do your own investigation into the share trading.

Looking at last year's annual report the Directors don't hold many shares (at least not in their own names anyway). The major shareholder is Compliance Energy (the project vendor) who are Canadian and outside the reach of ASIC.

So who sold all the shares prior to the announcement ?

Would be interested to check these large shareholders

Green Frog Nominees Nominee A/C
Nefco Nominees Pty Ltd
Mr Mathew Donald Walker
Vienna Holdings Pty Ltd
Ronjen Super Fund A/C
Karakoram No2 Pty Ltd
Eric McKenzie Nominees Pty Ltd
Mr Gavin Argyle
Mr Richard Dongray & Mrs Joan Dongray
GAB Superannuation Fund Pty Ltd
Yogi Bear Investments Pty Ltd

Who are they and did they sell down on insider information ?

Too late for us small shareholders as the horse has bolted, but as others have said, enough is enough ...