RE:GMP/Dundee/ITG and TD are buyers Morgan Stanley and CIBC are the same seller - you can see how the stock comes out of both houses simultaneously. In addition to the 11M block that traded on 11/25/14, there have been a further 22M shares traded since 11/14/14 for a total of 32M shares since 11/14/14 (there was a 3M share block alone just last Friday). That's a ton of shares. I don't see or think it likely that any of the large institutions or insiders are selling so it's a non-insider but clearly someone who had a lot of shares, like the prior CEO and/or his comrades - one who worked as a "consultant" for the company. That would be my guess as to the identity of the mystery seller - all speculation though. The good news - as noted by dreaddogs - is that there are eager buyers absorbing this large position.