RE:Well results update soon?I think this recent volume is in anticipation of tomorrow's announcement for the TSX inclusion. If I remember correctly - it was Scotia who put out their opinion on it a few weeks ago.
Look for an announcement tomorrow after market close (probably?) in regards to SDE meeting the requirements for the TSX index. Few weeks from now, SDE will officially be added into the index meaning all the index tracking funds will need to do a decent amount net buying to get match the index weighting.
I believe the number was around a few million shares of net buying ALL in one day mid-June. I don't know how the funds will pick up the shares because as we all know, SDE has a fairly illiquid market book. So, I suspect this volume is speculation for that catalyst inciting some sort of short-term liquidity squeeze from fund managers buying.
The recent volume here seems to point towards a positive sentiment on the inclusion though.
Who doesn't love a good confirmation bias?