Ann: Activities Update Qtr Ending June 2023 and Appendix 4C, page-16

Yep, just a tickle into 0.6, capitulation, and fear. = opportunity.
When they are flushed out, those CR flippers, can no longer influence the price.

Nothing has changed long term, and the ops were trading at 1.2-1.6c when the heads were at 8-9c.

All that you have since then, is an improved quarterly revenues, expansion continues, and then an oversupply of CR flippers.
8.5c CR plus free option. = 7.7c + 0.8c break even. Simple math.

The outlook of the leverage buyer, is different to the price mechanism of a capital return seller.
One is in control of the price action today, typically the other will be when the former have vacated the building.