Ann: Change in substantial holding, page-10

Yeah I'd say locking in profit as an unsophisticated risk reduction move. Single mine nearing end of ramp up so if you take a simplistic look at the lassonde curve a lot of the run up could be considered to have occurred. Significant downside IF things go wrong with equipment, conditions etc. Lots of debt to repay before spare money for dividends.

But in this case there are other factors pointing up like the increasing grade that could beat current analyst numbers, high confidence of success due to extensive infill drilling, potential to expand the resource and production capacity, likely buying by sector specific ETFs, top level contractors like Develop Global. I guess my point is all this latter optimistic stuff is more detailed nuanced stuff that might not carry enough weight in a big company where the standard playbook says now is when we offload some. I don't know really, just one possibility for them downsizing.