I'd have been quite happy to discuss with you, Mo, but had no idea how one goes about discovering whether management had been selling or not. But it would make no sense if they had because leaving aside the Beetaloo, the SA government has just last week given the go-ahead on the Karoo - meaning Falcon will be getting its long-awaited license in the near future. And that's as close as we can get to a sure-fire bet of the SP going up.

My guess is that as a result of Falcon's higher profile the company has come to the attention of swing traders, i.e. speculators who have no interest in Falcon as a company, only as a vehicle for making a fast buck. We saw how the SP almost doubled before drilling was even announced and now the logical conclusion is that many of the buyers who loaded up on shares ahead of the anticipated announcement have waited to see how high the SP was going to go and as soon as it appeared to plateau have taken profits and offloaded their positions.

My explanation is purely speculation, of course, but it seems a lot more likely to me than the idea of management offloading any of their holdings at what is poised to be the most lucrative period in the company's history.