Good call on the huge volume of shares trading.  One thing - the latest private placement is already closed (see newswire - closed Nov. 9).  So the "glue" to $0.50 is gone and the price was free to drop to 0.43 - or go down or up wherever it wants, if so.  Given the action on all other junior golds, the drawdown hasn't actually been too bad.

I did some research and found some more reasons for the huge share volumes.  Basically what you alluded to: huge private placement share offerings.  I ignored the 2004, 2005, and 2006 financings, and list here the 2007 PP dates, approx share price (some have warrants, options, flow through), and the approx. date they trade freely:

April 2,   $0.10, freetraded Aug 1

June 29, $0.12, freetraded Oct 29

Sept 6,   $0.12, freetrade 2008 Jan 6

Oct 15,   $0.14, freetrade 2008 Feb 16

Oct 30,   $0.50, freetrade 2008 Mar 9

So the mass of shares trading now were acquired for perhaps 1/2 or 1/4 of the current price.  Yet the daily churn exceeds what is needed to absorb all these shares.  Which is a good thing.  So the PPs are a factor, but not the whole picture.

Insights?