Hi Missinglink, there is no raising coming up, the company is now funded until mid 2013 having just raised $2m acc to Ian Burston. I personally believe that the stock was sold down by a holder who got in at lower levels (perhaps the 20c raise?) and didn't get stock in this placement.
The heavy selling actually began the day before the (placement stock was allocated so either they were about to get more stock at 28c and were happy selling at 30-31c or they felt hard-done-by for not getting placement stock and decided to exit their position.
Most likely a bit from column a and some from column b but my understanding is that most people who got placment stock are still holding.
EIO Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
