Because thats how human nature works. I personally know a couple...

Because thats how human nature works. I personally know a couple of traders who like to punt on stocks a little while before a drill result (or in this case an important announcement) with the intention of selling before the actual announcement. They do this on the basis that interest will build in the stock as has happened in this exact scenario.

There are also investors with longer term views that say, well if there isnt going to be any meaningful announcements for another 2-3 months, why invest now. We can use our money elsewhere until the time is closer.

Personally I have found that very prospective speculative stocks often trade (in better times, not extremely bearish times) anywhere between $50mill and $150mill marketcap. FAR sits currently at around the $85mill so is well and truly within the range. I think a positive announcement would push FAR to the upper range of this in the short-term.