The way I see it is, and I am happy to be wrong, both the size of the parcels being sold both prior to and after the capital raise indicate a seller with major firepower thus either computershare or citicorp, who timely swallowed hsbc's holdings to form a monster stake.
It was logical prior to the capital raise to bring advantageous terms, but afterwards it just seems like one or both are derisking somewhat and hence may continue to do so.
For what it is worth, the share price hasn't performed for a prolonged period of time so they may also feel more than a little frustrated having capital tied up going nowhere.
The last public release ("inferred") was either poorly handled by the company or designed to facilate this process. It added nothing new and may have likely wasted an opportunity.
In fact, the vanadium industry has been white hot since January and the company have not capitalized on it all. That is, the company could have put out a more meaningful release in Jan or Feb and raised at a much higher price. It could have included regular shareholders, too, for that matter.
As it stands, without further news I expect the share price to fall towards or possibly even below the capital raise price as is the probabilities with capital raises so I will line up the soldiers accordingly in a slightly defensive strategy.
That said, if the share price rockets from here so be it and will be happy for you, T and co and will still fly in from Asia for T's 1 dollar party as have enough anyway if such a situation were to develop.
All the best with it.
Imho & dyor
AEE Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
(20min delay)