Looks like buyers further down the queue are becoming impatient.
When you are part of a 5mn+ buy queue and there is only a few hundred K on offer near the market, you have two options:
1) Give up and go home
2) Step up to the plate and buy of the offer before some other b****rd does.
And of course once that starts to happen other become inspired to jump up the queue and very soon there is no depth left and the SP is back on its way to high of a few months ago and beyond.
EB
Ann: US$300m Finance Facility and Management changes, page-1164
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