On Volume Confirming Price Action It's generally accepted that higher volume signals that more buyers and sellers are in agreement that a price level (or price move) is valid.
The decline of the past 4 months has happened with crazy low volume, just over 1mm shares a month (about 25% of the historical average.)
So conventional wisdom would say the move lacks conviction. Of course, it could be argued otherwise. But if the old saw is true, this low volume down move is false.
If there is sizable buying in the Private Placement and/or an equity offering to help fund Tugaske, it could speak a hundred times louder than the volume of the past 4 months. And in fact, it may be those very same potential buyers who are currently leaving Gensource in the cold with a mandated quiet period, waiting to lock in a sweet deal here.