Ann: Informa Mineral Sands Conference Presentation, page-3

One thing the presentation reminded me of was both Allan Grey and Ellerston are quality Aust. fund managers who do their research.
Someone is trying to stealthily get more at these low prices but not let the price run away. My guess is it's Ellerston.
If another fund manager figures out how underpriced they are and or is willing to take the risk before the pack find out then we'll get some competing demand price tension and rapidly recover some the previous steep falls. there was little volume traded on the way down so few tech/chart barriers on the way back up for the first bit.