Ann: Outstanding New Pilgangoora Drill Results, page-35

Keeping a lid on the share price is also a tactic used in taking over a company. A ver recent example was what happened to PanAust shares. There was consistent selling even though the company was making good money from it's mines that had only really come onto full production a year or so earlier.
The selling and shorting was fairly relentless until the largest shareholder made a take over offer. The original one was rejected, but they just kept playing their game and a few months later a new lower offer was made that the board eventually accepted, much to the annoyance of many small holders.
There is no need to guess where the shares for shorting came from, though it was never made public.
To me it was just blatant manipulation of the share price that the authorities never bother to investigate.
If some-one or a group of large holders already had their eye on PLS, I would not be surprised if they were playing this game. Why not?
All they have to do is keep a lid on share prices with every piece of good news, do some aggressive selling on any bad news, like another delay at TT or something similar, then just as many smaller holders are ready to give up, offer a sum 30-40% above the current price.
It might not work for take/over the first time around, but the attempt will give them many more shares to play with to try again later.
Don't completely discard this possibility.