Ann: RRS Conference Presentation, page-6

Looks like the buyers are on the sidelines waiting to see how desperate the recent sellers are...everyone including large buyers like to buy cheap...plus they might be able to grab more volume as well as the price moves down and then back up. For example, they could buy 10-20mil at 1.2c now, but if they wait for the seller to give up and clear 1.1c and possibly touch 1c, they could grab possibly 10+ mil at 1c, 20+ mil at 1.1c and 20+ mil at 1.2c.....don't get me wrong, I don't want this to happen, just guessing based on what I've seen in the last 3 days.

The risk obviously is, if the buyers step in now and clear couple of lines on offer...they are not huge, at least on-screen.

If my guess is right, the seller is waiting to dump another 10mil or more and waiting for buy side to build to 10mil, same as yesterday and the day before. The buyers know this and hence not stacking the bids. A bit of cat and mouse game till one of them gives up.

All IMO, I have no clue on what's really happening behind the scenes. But I agree that the recent action is classic CTM head scratcher!