There was a technical breakdown on the 6th June. If the news was...

There was a technical breakdown on the 6th June. If the news was good, then the share price would not fall this much prior to announcement. Most of the time there would be some leakage of optimism. Reading between the lines, the drilling update on the 7th June was a final warning for traders/ investors to get out. After years in the industry, the directors are experienced in masking the bad news. They create hope through their creative words. Psychologically its difficult because we hang on to hope... but hope can be deadly...