Ann: Share Placement to JFE Shoji Corporation, page-135

OMH only needs to pay a half decent dividend and the share price will shoot up. Not unlike GRR which paid 10c/share 2 years ago and the share price went from 50c to $1.75.
OMH has the potential to pay a far better dividend once all furnaces are producing and debt is reduced further. The new dividend policy takes effect from 1st Jan 2024, so we'll have to wait and see how this pans out. Going forward, if a half year divi was 2c and final at 3c, then a share price at $1 would be a minimum. This would cost $37 million which isn't unreasonable.
There is currently no short selling, the selling is most likely a large holder selling /dribbling out shares.