i think they were initially conservative..., page-99

crackpot...

You are missing the point...selling in knowledge of being able to pick the stock back up at prices "below" what you sold at (ie book a proft), perhaps after you have spoken to the lead broker, or anyone else who might have informed you of the likely placement price, is insider trading.

No ifs or buts...you are trading on information NOT in the wider market.

What happens afterwards is irrelevant.

The delay in the release of the assay results, in spite of when they were received (see "Please Explain" letter from the ASX), in my view took much longer than it should have.

A cynic might suggest the delay was to give enough time to get the placement wheels in motion...and perhaps based on this, a broker or "someone" had time to secure a large line to short?

Anyway, the activity immediately after the re-open on announcement day was in my view entirely orchestrated....with the view to pushing the stock down as far as possible, and no-doubt short-sell (naked sell?) in the process to raise funds to replace the borrowed stock being shorted (and perhaps buy more?), at the falsely set (manipulated) CR price.

Just to really rub it in, the eventual CR was then set at a "14% discount to the last traded price"...lol

I find the whole process disgusting and see it as symptomatic of the wider demise of the markets due to a lack of genuine regulation.

I also find supporting arguments for such activity very hard to swallow, and fear many have been at this so long, or are so deeply involved in and/or close to the process, they have lost their objectivity on the matter.

Anyway...enough from me...I suspect we do not see eye to eye on such things.

Cheers!