Agree entirely with these observations. This is purely speculation, but given how few people have that number of shares and given the similarity between the structure of both those sell orders and now the buy orders (both 9x500k), the most likely candidate is probably Regal as both the buyer and the seller.
Even if it is not Regal, and following that it is the same person, they have entirely misjudged the strength of the book. Both in thinking they would, presumably, be able to press the price lower and get back in lower and then in thinking that putting that many up in one block on the buy side would be too juicy an option to allow someone with an illiquid position in the T20 to exit (or a number of T100 holders).
In any event, this is now a circa $130k mistake for the entity in question.
Now we just need news. Here is to hoping management seek to capitalise on the strong IO price right now and get the resource upgrade announcement to market ASAP.
HIO Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
