Ann: Appendix 4D & Half Yearly Financial Statements, page-69

My hypothesis is that a major player wanted in.

This could be observed from the momentum buy up to 2+ cents in the past week (50m yesterday + 20m the day before).

The accumulation had been very clean and hasty. In your own words, retail investors would not have the firepower or the guts to pull this off up to 2.2 cents.

If my hypothesis holds true:
1. The major party has a strong conviction that the SP will go beyond 2+ cents, therefore buying up 70m shares within 2 days. (why? and what sort of return are they expecting?)
2. The major party believed there wouldn't be much time left to accumulate below sub 2 cents, hence gone FOMO (fear of missing out). Probably triggered by the recent CEO announcement or is there going to be news that re-rating is immement?
3. The major party actually got caught out from the half-year report. (i.e. they should have waited and might be able to achieve a lower average buy price.)

It is so fun to see all the actions regardless and I look forward to proving this hypothesis wrong, the only way to prove it right.

P.S. If I were the new CEO, I wouldn't want to have anything to do with the half-year report (i.e. no comments, no effort, I wouldn't even want to put my name on it). The next one though, I would be at least making some pretty PowerPoint slides. (CXZ slides have been pretty bad.)