Ann: Suspension of Operations at Nifty Copper Mine, page-158

This was manipulated down in a news vacuum. It seemingly wasn’t institutions selling down, given absence of s/h notices. Related parties, likely exchanging shares and shaking out retail investors in the process.
Net cash on balance sheet and about to generate considerable free cash from Renison, even after nifty c&m costs. Nifty heavily invested and by no means worth nothing, given infrastructure, copper resource w high grade and prospective tenements. As pointed out, potential for a buyer with a larger balance sheet. Plenty of potential corporate raiders at this level who would find a buyer for nifty and seek to take on Renison with very short payback from cashflow.
so, don’t be fooled and fall for the games. As long as there is a collar on the stock; consistent replenishing of vol on the offer price, they will just try to get you to sell out of frustration below that