Why sell ? Company's main asset control of mill, and possibility of getting permit, then after that potential for someone to buy them out or even get some mill feed in 2014. So IMO if one is speculating for those possibilities if they pull it off, whether $.01 or $.005 today wont matter. Or simply their message is not accepted by the market for whatever reason.
My opinion simply is stock price is a function of supply and demand. Since company has publicly stated they will re-open the mill, and they have no current positive cash flow, they need to increase supply of shares. No marketing to create demand or no effective marketing, so supply exceeds demand, therefore price drops.