Ann: Suvo signs MOU with Tier 1 Ceramic Producer, page-22

It is called an mou for a reason. Do you really think such a massive company would mess about and waste time. They have tried the product and liked it and now comes the negotiation about amounts, costs, and a whole host of other commercial stuff.
the price did not tank. There were bigger than usual trades and the price held up. If I had to guess I would say it is a balancing of a portfolio from an institution that at the end of each month have to keep to their stated mandate. They can be brutal and just drop stock irrespective of price. So it could be easily argued that the stock held up very well with big volumes and did not drop. I would expect over the coming days for the SP to creep up as the market digests the announcement fully and realises this is a company going places with the longer term SP only going north