It's fair to say that CNC has lost the momentum it had from last year. Perhaps it's been impossible to schedule regular news releases with the state of the laboratories.
Nevertheless, CNC needs a higher stock price for institutional investment (which is needed to really bring the stock price up). Mark has stated himself that he needs to bring the sp up in order to grow it.
To me, the main way to get the sp up is to validate the project. The reluctance against this project compared to past successful nickel projects (like Voiseys Bay) is the nickel grade. Despite the increasing demand for nickel, investors are hesitant to invest in CNC (at this stage of the Lassonde Curve) beacause they flat out are unsure if it will become a mine. Even though the PEA shows it is profitable, we don't know what Majors are thinking. Are they holding out for a higher grade discovery for them to invest their billions in? Is lower grade nickel a last resort?
The main way to change market reluctance is through this Strategic invester. If a Major mining company buys 10% of the company - that validates everything. Every drill result in the future showing large scale/low grade will have more credibility. Bottom line - the belief that this project will become a mine gets way stronger.
All of the above is just my opinion. I am long on CNC.