Because they just took up tranche 2 of the placement yesterday....

Because they just took up tranche 2 of the placement yesterday. This tranche could only be issued after shareholder approval at the EGM

it is worth pointing out the Tolga and Rob Jewson together now own 17% of the company.

I assume Even Cranston also took part in the placement but hasn’t declared yet.

The three principal directors probably now own about 25% of this company.

They can’t sell without disclosing and so are obviously not in this for a short-term pump and dump trade as the panic sellers are worried about

Also the volumes do not indicate this either. The shares have fallen on relatively low volume.

I think in coming days the stock will find a floor. Frankly this retracemeant is healthy for the stock as the price chart was getting out of control and becoming unattractive to new prospective buyers At least now it can build a base and move up in a more measured way.