Looks like a sell down. Too bad, the press release suggests another low ball financing and more early dilution. So much for everyone that said we would be doing a financing at $0.25 or so. The huge selling was likely just insiders raising money for this low financing, and then they also get another warrant.
It would be nice to see some buying pressure by the end of the day, and if not, my guess is a low financing yet again. In this very poor resource market, there isn't much room for more dilution.
What does everyone think?