fleeced

This is what it looks like to me:

There was a large shortfall of shares to be got rid of.

A glossy announcement was put out comparing an exploration target to SIR's find based on rock samples.

The share price went through the roof because of the SIR comparsion. A home for the stock overhang was quickly found which was then immediately dumped. Coincidentally a major shareholder was also able to overload some of their shares at a juicy price.

Obviously it would be hard for the authorities to prove any unethical behaviour and they couldn't be bothered anyone.

Anything goes on the ASX now days, insider trading, high frequency trading, short selling, rumourtrage, anything to fleece the punters.