I was actually kidding about the link between PI buying and the PP. (I should learn to use emoticons.)
I was wondering though, seriously, if there is something in the PI buying and the announcement by NG yesterday that they were going to try and sell their portion of GC? This was written in August of this year:
"Galore Creek has been a thorn in the sides of both Teck and Nova Gold (NG).The size of the deposit is massive but its location and geography makes mining difficult.The original feasibility study shocked the markets upon its release causing the stock prices for both companies to tumble.
The question concerning Galore Creek is not how Teck will fund its portion but how Nova Gold will fund its portion.Now that the sticker shock has worn off both companies can look at the project in a new light and consider some alternative options to develop the deposit.
By raising cash now and not waiting until later Teck can place orders for equipment now, lock in prices, and move forward on a number of fronts before the feasibility studies are complete."--Seeking Alpha