Everyone was buying for the catalyst of production to up the price. As everyone following this stock had the same strategy (to make short/mid term money selling on the news) the strategy failed and the price fell down.
As the price fell down more people sold. Now the price is in a lull, which probably suggests on a fundamental level, its probably the best value its ever been in its entire existence, as a huge portion of the risk is gone.
The only issue is, however, no one knows when the catalyst that finally lifts the price will occur. Nor what that catalyst will be. All one can say is that the wider gap between fundamentals and price, the bigger the re-rate when it finally does move.
Never fun waiting... As you could be waiting anything from 3 weeks to 3 years.
I personally sold some also when the catalyst failed to re-rate, now I simply hold my longer term holding which I'll just keep until they realise their entire business plan (multiple cash flow postive coal mines)
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