Ann: Drill results extend T12 deposit, support resource upgrade, page-42

All IMHO.

My opinion is that the nature of the spec end at the moment, is that prices are supported by news flow. The only way stock prices don't fall after an announcement is if the stock is trading very low volumes, or has some days with no volume at all.
When the company releases an announcement, if the stock moves up a cent or more, the mood is considered good or even better, and prices will hold for a while. But almost always the SP returns to the price on the day of the announcement. After 10 days to three weeks after the announcement the stock will find a new higher low or head back to the cellar.

For small retail holders it is a bad strategy looking to buy into an announcement, at the spec end ATM. Waiting to purchase 10 days or more after an announcement can result in a far more appealing entry price and the market has digested (burp) the "news" - which may translate as less risk on a fundamental basis.

But of course charts and TA will dictate that a retail investor will end up doing just that.

The mood at the spec end is pretty weak ATM.

My only gripe with the new management, is that they did not take this factor into account (or else they did, with the goal of keeping the SP suppressed  for a takeover,  some time in the near future).

The lack of news for that extended holiday period over the new year - saw TON down in the bargain basement again in the 6 cent range. We did not have the SYR downdraft effect at that time, two months ago either.
Sector graphite demand is what it is and is out of everybody's control. The premium flake certainly puts TON in an exclusive part of the market.