Don't quite understand the logic behind what you said here,...

Don't quite understand the logic behind what you said here, sorry. Share price going down = more desirable?

It just looks to me like a typical day trader dump on a penny stock. The short term traders who bought in and thought they could double/triple their money in a few weeks have started to exit because they're impatient. With the release of the new announcement today, they're realising that the drilling program is going to be a few months long (which us long termers knew anyway). It's all about opportunity cost for them. Why sit and wait in a stock when they can take their money and trade it on other momentum stocks before potentially coming back to STM. I'm sure they'll be keeping an eye out for a re-entry when STM starts moving upwards again and the drilling program is nearing completion.

These are the ups and downs of a penny stock.

As for us patient holders, nothing changes and the goal posts haven't moved. A few months of holding and we'll have our answer, hopefully.
I'll be urging the price to drop lower so I can look at top up in the late teens now that I have a little bit more cash available.