ASX announcements and price

[greedyandpoor]

Hi
Can someone please explain to me why price would fall in the event of positive news?
eg. 12/06/2007
MZM announces confirmation of uranium at Robinson range.
but the price falls 20% after this.

Surely profit taking doesn't make it fall that far?
I watched the market depth 2 mins after announcement and the cheapest it was bought at was $0.33. But afterwards, fell to $0.26.

Why is that?
Thanks
G.

 

[prawn_86]

im still a beginner but:

sometimes expected news can be already factored into the SP, and if the ann isnt as good as what the market was expecting it can cause a drop.

i havent looked at that specific ann but if the grades were low for example, that may cause a fall in price.

hope this helps, and anyone else feel free to add to what i have said or correct me.

 

[greedyandpoor]

The report suggested the results were significant (>50ppm).
What's a good source of information about trading uranium?