A while ago I suggested that one (or more) of the major holders...

A while ago I suggested that one (or more) of the major holders was 'averaging down'. This seems to have been the case for some months now and the SP has been decimated as a result. When it was freely trading it looked fair value at around 90c IMO. Since then some fund manager(s) decided to hit a button and destroy the SP for their own gain.

I understand that these larger funds have sophisticated software to average down their purchase price. This is obviously all legal and above board otherwise ASIC would step in. Obviously a lower buy in price is advantageous to the fund but what about when it smashes the share price so much that it jeopardises the future of the company and it's shareholders...

There have been no major shareholder changes reported so the fund effectively owns the same amount of shares it owned before however the SP is a third of the value that it was when it started averaging down. You really wonder what the point of averaging down is when all you are doing is pushing the SP down.

Perhaps you are finished averaging down now flick a switch and can let this company decide it's own fate? This project is important to South Australia in particular and will go some way toward filling the void that the shelved BHP projects created. Let's not let this one get eaten up cheaply by foreigners.

Hang in there holders. It has been very hard to stomach but IMO it is just a matter of time before this gets off the ground.