My understanding is this: the sell-off could be a result of investors not liking that the mine appraisals were not SEC compliant. OR, it could be the typical manipulation effect by big firms to drag the price down and accumulate shares. The latter makes more sense, as I've seen prices plummet all too often in light of good news (such as NEWL'S Kentucky mine). The R/S isn't a negative move, it should cause a run-up! And preserve their Nasdaq compliance.
Something to consider is this: when earnings are released, the price often reacts chaotically - usually dropping lower. The myth is that investors fear analyst reactions and the comparison of Wall St. estimates to actual revenue. The kicker is this: it's intentionally lowered to induce fear, panic selling, and trigger stop losses in order to enter larger positions by firms (creating "Elliot Waves," eventually).
Recent examples of this includes Pandora, Cisco, Canadian Solar, Green Mountain Coffee, Expedia, and various biotech companies that fall on great clinical trial results.
It's sneaky, but it's the name of the game.
