Finally sold out of my million or so shares in the last 2 days....

Finally sold out of my million or so shares in the last 2 days. I hope all goes well for holders. My gut feeling is that the IO project is not economically feasible. Revenues have gone from $US17-19M per ton (initially) to 12 mil per ton and now to 7.5mil per ton as per latest presentations. EPS went fron 4.8 cps (07/08)(january presentation) to 1 cps in recent presentation.
I emailed phil constantly over the last 18 months and to date not 1 thing he said has come to fruition.
The recent string of announcements followed each time by a massive dumping started ringing alarm bells. The last announcement was a complete embarassment for phil and as usual, the 0.5million share dump ensued.
This suggested all of phil's recent announcements were simply providing a forum for his mates to offload.
I asked Phil whether the directors would be looking to increase their holdings to which there was no direct response.
The recent continued dumping suggests 1 of 2 things.
1. Large shareholders are close to the truth and are getting out.
2. A capitol raise is on the way and all the large sellers will pick their shares up again at around 6 cents.
Sorry to be so negative and I hope I am wrong but this doesn't look like a share going anywhere fast.