somehting not right here, page-107

What makes you think it is one trader with the 400,000 looks like a whole heap of people to me. All these sellers have obviously had enough of the lack of news and progress from QHL over such a long time. Think back to all the chatter about the signing of the LTA, before the end of the year, before Christmas etc etc were the comments. What did QHL say - not much.
This time around they did announce the signing, then the move to Sydney but not the $10 mil and all the other little bits and pieces of detail that everyone is interested in.

So the result has been that people are jumping ship selling out and going elsewhere. I would not at all be surprised to see that some of the major holders are bailing out as well, even though QHL don't think they are.