RE: WARRANTSThat deal has nothing to do with the action. It is just 500,000 warrants that expired four months ago at $2 and $5.
Per the earlier question, warrants can have a capping effect on a stock when they are coming due, as investors often buy the warrants (putting money in the company's coffers, by the way) and simultaneously sell the stock. There are no warrants coming due at this time around the current price, so this is not an issue.
I believe 144a selling has been the big culprit, as nervousness continues regarding financing. But call the company, they will tell you that financing is upcoming shortly. Once that occurs, I believe the selling pressure will abate significantly, especially given the ridiculous current valuation of less than $1 per 43-101 ounce.
Hard to believe the company would have its entire global management team at PDAC (as is planned) if they had something negative to say.
yoyo