There is not a lot of volume for this stock so it is quite probable that a few trades can easily cause large fluctuations in price. Naked short sellers could be a possiblilty because of the relatively small float of shares (~ 20 million) but I do not think that is the reason for the moves (more probable that someone was taking some profit off the table).

All that this company needs (like all exploration companies) is some good positive news and the interest of some investment groups. Like most small caps, it is usually the patient investors who are willing to hold out (excluding negative news), who will reap the rewards. The management team made a great acquisition for Mantaro Phosphate deposit in Peru and I believe that we will be seeing more smart moves by the management team in the future.