Sustained selling from Stratford Sun (TMI). I estimate they...

Sustained selling from Stratford Sun (TMI).
I estimate they still hold 16M shares.
That's plenty for an illiquid stock like OM.

TMI facing a cash crunch.
Ghana government has placed a cap on mining of manganese ore until dispute over alleged evasion of $300M USD in tax and royalties resolved.
TMI cancelled a 2 year mining contract with Ausdrill (Perenti) on Dec 17 as a result.
Trucking contractors have also gone on strike due to delayed payments by TMI.

TMI financier China Huarong Asset Management also caught up in large scale corruption involving billions USD.
Loan to TMI to acquire Consmin was approved by former chairman who has been arrested and could face death penalty.
He was apparently receiving kickbacks on loans he approved.
Very difficult to get verifiable news from within China due to opacity.
It would appear China Huarong new management has demanded repayment of loans approved by former management.
Especially targeted are foreign assets held by debtors. New management demanding immediate liquidation of foreign assets.

These two factors may explain TMI's desperate bid to exit it's Om stake at any price.
TMI could take another 3-4 months to sell down its stake entirely.
That's another 3-4 months of pain for us holders.