new major share holdings, page-11

They shot up because the company went from being almost entirely speculative (no solid future prospects, just sitting idle losing money due to maintenance costs), to actually having a future, with contracts entered into etc. ARW had a valuation (market cap) of around $6m a few weeks ago, which is pretty much as low as market caps go on the ASX (i.e. choose the worst company on ASX, and it probably has a market cap around this mark). Combined value of ARW assets were probably worth more than what the market valued the shares at :).

Prospect of company going under was a concern (as far I as saw it) - if they didn't pull these contracts out their money would have dried up, and not a lot of people would be eager to take part in a capital raising to keep them afloat. So in summary it's the fact that becoming cash flow positive is a real possibility now, the shares are valued at a more reasonable level (wasn't expecting this much movement though).