It's on low volume so I'd suggest it's manipulation to try & pick up some cheap shares.
We've got a week to go, I'd wager that by the end of the week the volume will pick up & the price will rise.
As I've posted before I don't really care if an offer is forthcoming, I can see the value in holding QIP long term.
Ann: Update On Adamantem Indicative Proposal, page-13
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