"those who sold haven't been reading both modes and the...

"those who sold haven't been reading both modes and the company's announcements"

lets focus on that Ersa... "those who sold".

Who sold? Seriously, look at the volume. The entire volume of today that drove us down to 4.3 far was less than I own and I don't consider myself a big holder. No one was racing in to buy so price didn't head north, but what are we really looking at here? Maybe 100 small retail investors that took a punt and didn't go their way? Or one guy with a decent bag that doesnt want to wait? Its tiny tiny volume. Anyone else who is looking to increase holding is not going to run into the burning building, they'll patiently wait and buy at support (where that is remains to be seen). Theres no urgency needed here, so hence the price does dwindle as no ones rushing into the buy side.

The whole, CR is coming, resource grades rubbish etc etc that we've seen posted is exactly that. CR (of some sorts) is required and on the way, no doubt and no one holding a decent parcel cares. We know this because absolutely no one with a decent holding has sold.

If the news was bad, this could have been sold down to practically zero by any of the top 50. Hell, I alone could sell this to 0.008 tomorrow....yet I haven't and neither has anyone else who holds say, 2 milliion ish plus shares. Those who took a punt, those that dont understand the announcement and those that were just here for a quick return on their 10k have fled. The drop is a knee jerk reaction triggered by the very few.

Now, all that said, that doesn't mean we dont head lower. I think tomorrow will see the last of the wash out, but then the games will begin. Could this see the 3's again? Yep, probably could. Does that mean the company is less progressed than we were this time last year? Ah... no. Took too long... but there was a lot of progress in that announcement.