RE:RE:RE:RE:what is happening
Insiders aren't buying or selling from what I can find.
Blasutti owns 900,000 shares and many options
Hawley owns 1.8 million shares and many options
A few others hold a few hundred thousand shares and options.
Ingalls and Snyder still own 21.9 million shares according to Sedi.ca
Toqueville still owns 31.2 million as of sept. 30, 2015 according to Morningstar
Sprott might have sold out which is good since new CEO John Wilson is dumping most of Sprott Assett Management's resource holdings.
The only thing that makes sense to me is the 11 million shares from the financing becoming free trading on Dec 28 or 29, plus market weakness and increased shorting.
I have no inside information but Hawley and Blasutti have many shares and options plus their reputations are on the line. They are very close to be at break even or cash flow positive so I don't think it is time to throw in the towel on this one.
This isn't the only company to have collapsed recently. There are many others. SPM won't move up until SIL and AG start moving up and the sellers are done liquidating.
Last year at this time I bought GCU at 10 cents because of a similar selloff. It is now worth 40 cents after being acquired by First Mining. Anything can happen included being acquired by a bigger mining company.