Quietness on its own is certainly not an indicator as can be...

Quietness on its own is certainly not an indicator as can be seen with many other stocks. However when observed with other indicators it can be a precursor to an annoucement especially if one is expected.

In regards to the selling, I can only assume from experience that once a fund decides to sell then they rarely stop unless there is new information that changes their reasons for selling. The current news from AXO is really not any different in this broad sense compared to that of the past two years. While AXO are getting more and more boxes ticked, until the financing way forward is confirmed with a heads of agreement, joint venture interest notification or whatever form it takes, then the news had probably not changed from Indus's point of view.

It is likely that the AXO advisors will need to come up with a novel and clever way of getting this project financing in place. There is no doubt that the demand is there, however it is getting to a position where parties are comfortable that takes time and expertise. AXO's issue in the past, because of the large capital involved, is that they really lacked the expertise. That changed with the appointment of Sigiriya Captial to secure debt and equity funding in my view.

Another point to note is that once a fund starts to sell and it becomes public knowledge then other funds follow suit as they benchmark off each other. It is kind of like a yacht race where one team changes tack and others follow to make sure they do not lose their relative position. With the increase in wind, ie increase in volume, funds have used this past month in particular to exit AXO as the excitement has bought in new buyers. In regards to AXO this change of tack, ie selling seems to have finished.

Remember investing is about probabilities, not certainties. The probability in my view based on my own set of past experiences is high for an announcement. It has been high for the past month and it is now higher resulting in my posting.

PS. One can either be early and take the risk or wait for the announcement and then buy in. If you DYOR and look at other stocks in a similar situation you will see that most rise after the announcement and keep on rising for quite a number of days/weeks afterwards. So for small investors (ie investing in small volumes of stock) it is often better to wait for the announcement before buying in. Waiting certainly removes the angst but being early and right improves the bottom line. And yes often I am too early.