Ann: Kanmantoo Economic Assessment Confirms Outstanding Potential, page-59

Whoever is doing it is carefully disguising their behaviour. The conclusion to me is that somebody or more than one somebody is exiting. Presumably not enough so that they have to let the market know and reveal their identity. Its just unlikely that this is the behaviour of lots of small investors all deciding that our prospects are not good and they need to sell out as soon as liquidity enters the market.

Its possible its traders/others who have participated in the raising and are trying to cash out for a small profit. Raising's are not something traders normally do so that's unlikely also.