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I reckon trading has been "held back" by the dang Sohisticated Investor Placement of 10million shares 15 trading days ago. Volume since then totals approx 15 million shares so it can be assumed that most of the arbitrage/quick turnover/small percent Sophistos have been cleared out.
imho it was these sophistos who "capped" last Monday's excellent drill result move.

This combined with existing holders not BUYING such news because they thought they'd be in at 30 cents thru the SPP.
Isn't this SPP very restricted in the total number to Issue?
with a very high liklihood of every shareholder not being able to be "filled"?

Saw during the week a post stating the SPP was on a First Come First Served basis. Never heard of this being the method.

Instead usual practise is to cut back orders on a proportional basis over all acceptances received by Closing Date. That is you "order" say $15,000 worth but have to accept say $7,500 worth and get refunded the Balance.

Anyhow I wasn't eligible for the SPP so didn't read the terms and conditions of this specific one so could be just operating under a wrong assumption.

Anyhow my reading is that the Selling/Distribution has been chiefly bleeding prat Sophistos who just don't care about potential just making 5%/week or quicker.

So once this SPP is cleared up and existing holders find Maybe that they weren't able to Top Up at 30 cents?
Then they'll buy On Market especially on further Good News and the TA pattern flag targetting the 50's will fly
Happy Days,hey?

28 cent stop loss.