Ann: Sale of NZ business and assets, page-75

That's it precisely

They're not actually selling ... those large sell orders weren't taken out, they were just in there to scare people and beat the price down ... and they succeeded.

Prior to the run there was next to no selling going on around the 48 to 50 cent mark (in spite of the 250,000 sell order sitting threateningly at 51 cents which, interestingly, was taken out in one fell swoop as soon as it looked like being hit) and then no resistance whatsoever as the stock took off on its run.

But now that they've beaten it back there are a whole load of trapped buyers ... namely anyone who just bought in on the run from 50 cents to 58.5 ... The thugs will now hoover up the shares of anyone forced to stop out and plus they've created a measure of panic which will further discourage buyers of the day trader variety and put a dampener on any upward movement.

This little tactic will enable them to pick up shares waay cheaper than if the stock had been left alone to run its natural course

I guess it's a measure of how in demand the stock is ... just may take a while for it to actually get anywhere unfortunately