You don't know that it's the placement holders selling. It's...

You don't know that it's the placement holders selling. It's more likely that those '1-2 pip traders' you say fill the register are being stopped/shook out.

The instos were happy to buy at much higher prices than the current SP, so I am very happy buying here. If nothing else, I back that the instos are looking to pump it up to offload those 4c shares (for a profit) and free carry the oppies.

Technically, 3.2c is a support level, which it held firmly today with plenty of buyers coming in. Chart also shows it is extremely oversold at these levels. Potential new up-trend channel to form with target of 4.9c, but we will have to wait to see the action tomorrow for confirmation.

Obviously fundamentally it doesn't get much more bullish than the current ~$10m MC with ~$3m cash projecting $30m-$100m of profits for the year (based on cost/sales price of product).

I think the next major catalyst will be an offtake.

Good luck to holders.