Chrisp, I agree that one should not assume a buyer is smarter than a seller.  However a non-retail, big volume buyer usually is smarter than a retail buyer.  This is not because of insider information, but rather, simply because of their more extensive dd.  If you or I (retail investors) were to invest $10 million in a penny stock company, we would also have the resources to do much better dd.  We would have boots on the ground in Korea inspecting the project and speaking with the workers.  When those big investors are not selling, it is a good sign that things are still on track.  We retail buyers/sellers do our best at dd, but it is a small cry from the dd that Dundee has done.