Understand your logic bullion2, if the share price was going...

Understand your logic bullion2, if the share price was going gangbusters then we'd probably think that good results were being leaked and buy more with confidence... but just because SP is not yet flying, I don't think that automatically means that the well is a duster.

The volume of selling has been quite low, and there has only been a couple of trades in the last couple of days over the magic 30k-share trade. So I think it's more likely some people want to raise the cash to buy 15k worth at 45c, and are thinking why not sell 15k worth of their shares at 50c and buy it back at 45c - I can also understand that logic as well but personally am not subscribing to it. I think the closer the SP gets to the SPP price - the more people were tempted to make that trade (and perhaps some stop losses getting hit maybe?). Possibly some of the other selling is other people also subscribing to your theory that good results would have the SP going the other way.

I am holding my shares because I have held them for a while looking forward to drills like Kingfisher. I would hate to sell 30,000, find that it is a commercial discovery and only get say 15000 of them back after a scaleback of SPP. I think it makes much more sense to hold in favour of the relatively minimal gain to be made from a 45 to 50c scalp, and still have the option to add the extra shares to my holding if Kingfisher comes in. Just IMHO. Like I think someone previously mentioned - it's more like holding a short-dated 45c option (which expires Dec 3) while we wait for results.