Ann: Another Off-Hole Conductor at Granite Well, Garden Gully, page-41

Oh that!

Bitter experience has taught me that some biggish holders want to sell out for whatever reason but can't with standard day-to-day trading where there has been no news - because the liquidity is not there. So they wait until a good news ann comes out knowing that there will be liquidity. It's a good dumping time as a rule and as a result the SP often drops - despite the good news. That miffs long-term holders no end.

Another factor here is that my casual observation was that the SP had slowly risen over a reasonable period but on quite light turnover. There was hardly any selling pressure. That's often a good sign for a fall coming soon.