I was wondering if the 100-500 lots driving down the price are from majors who wan to potentially cushion the impact of a positive NR; and/or mitigate downside risk at the same time.

If they anticipate bad news the price has already reflected it and if the news is good they have the opportunity to buy and lower levels that they should be paying.
Last week we rose to $2.70+ . If we got a NR then it would have to be amazing to move the price into the $3s. Now since the price has been beaten down to $2.20 it buys at least a few hours to a full day of buying for anyone wanting to get in under the $2.70 mark that it was at last week (if/when the NR is good). Just a conspiracy theory I was working on in my shack in the woods. lol
GLTA next week.
Gamblor.