Agreed that it's probably a top 10-20 SH who's been dumping (given the sheer volumes that have gone through)
Disagreed that they would necessarily know anything more than the next person. Remember that this company was backdoor listed with an existing SH base.
Management did mention in an article (someone else has posted it here before) that in hindsight they wouldn't go with the backdoor listing option again. Perhaps they didn't get the SH base they wanted?
Some of those existing SH from the old FOY days would've done well when this got up in the 60c + range. If they sold out of any anywhere near the top, they're laughing, so could afford to dump the rest at bargain prices if they need the cash badly.
Some of the selling in the last few months hasn't been smart (loading up the sell queue with huge orders) so looks like someone just raising cash.
Management are obviously extremely confident in the technology (they've all taken shares instead of cash as far as i can see, although i haven't looked too hard.)
They've got an off take agreements for the first facility, so it's just a matter of producing. Then there's the list of future sites already agreed. Once it gets going this should be a real performer.
In the meantime, this looks to me like a great buying opportunity. But hey, i'm holding so of course i'm hoping that's the case.
IGE Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
