Is news preceded by volume?
-In my experience, Yes. I'm not posting about whether volume should precede news, it probably shouldn't. I'm only saying news leaks, and people trade on it.
To evaluate recent volume you need to consider the legitimate exercise of 9.1 million warrants granted at $0.15. Many brokerages facilitate the exercize of warrants/options by raising the amount needed for the purchase through simultaneously selling part of the stock bought. That explained the volume cited in the news release linked, and in my view, likely explains today's selling pressure.
https://nulegacygold.com/s/News.asp?ReportID=751438&_Type=News&_Title=Nulegacy-Announces-Exercise-of-1.36-Million-in-Warrants