The Short Report, page-299

Here's where I am on this, and before any moderators starting frothing, this is purely speculation.

1. Ive maintained and continue to do so that the price action on this stock is insanely manipulated, there's currently no real price discovery. How the market could value this a month ago at 2.60 and $330 million MC and now at $175 million MC is not the behavior of regular securities. Always makes me laugh that if something moves up too quickly we get aware queries, and yet is dumped mercilessly day in and day out yet silence from the ASX.

2. I think a big buyer stepped in prior to the move up who scuppered their plans to settle their final allotment of short sales with the ASX300 re-balancing, they had to heavily short sell in order to control the price and now their stuck with a final lot they have to settle on market.

3. Management probably had a connection to all this, it does seem to have targeted Ian gandel directly whether in a takeover attempt or not we are yet to know. There was in all honesty a lot of information that they have not released to market, forget about timelines blowing out, i'm talking obviously a very hostile group. This is the only explanation I can muster as to why Ian Gandel would sell, on market ( in reality dump) millions of Alkane shares at ~50c (a profitable company now almost 70% higher) rather than, 1. not have taken his allotment in the capital raise, or 2. sold on market ASM shares at $4, $5 etc. (now sitting at between 40% and 80% down from those prices). This is a man who would know better than anyone the status of offtake agreements and prospects.

4. Speculation is rampant because of a lack of real news, its unfortunate. I recall at one point we thought millions in feedstock had been dumped only to find out its actually still there according to the half yearly reports. There is a real chance that management is colluding here, or at one point did, and now we must fight this up from a shocking SP.