Definitely STT Neilst, no question. They have stated publicly...

Definitely STT Neilst, no question. They have stated publicly that they own shares in the stock and that they consider driving the share price down to constitute an achievement for the environment.

As to why the other players in the market are allowing this to happen (i.e. why they aren't buying into the stock at such low levels), here's a few reasons:

1) Long-term holders (like myself) have been following this stock for quite a while now, and most of us are tapped-out, after having averaged-down on previous occasions when the stock price was attacked. Personally, I would be delighted to average-down even further if I had the cash to do so. Who knows, I may even start holding up distant relatives for a loan if the SP remains at these levels :-)

2) Other interested parties that haven't yet got a big stake in the stock are probably waiting to see what happens with the Federal Court case.If it's favorable, it's going to be a long ride to riches as each project gets approvals, makes a profit, generates funds for further drilling etc. They probably figure there'll be plenty of time to get in at the bottom (or near enough to it). If it's against Venture, there'll be a temporary drop in the SP as we wait for the Greg Hunt to remake the approval...and this cohort of buyers want to avoid that.

3) Of course, there is the other great cohort of potential buyers (the "mum and dad investors") who have an understandable but nevertheless irrational fear that the Greens and STT will still make life difficult for Venture, even after the recent Federal and State elections. These buyers won't come in until production is well underway, until profits have been posted, and until the stock has passed $100M market cap and is getting covered by the major analysts. When this happens, they'll flood in big time, being the last to join the party, as always.

On fundamentals, this is a great stock...the market will eventually catch up to that fact once the green haze starts to dissipate.