waxweazle,

IMO, this PP is intended to expand the exploration program in the McFaulds lake property as well. Although the warrant is free, but it is excisible at the price of $.75 after four months hold expires. I don't think they want to lose their claims just for short covering. Anon (not sure the same brokers) sold over half million shares at the average price of $0.51 in the past month. Peter might be thinking FNC will need additional exploration in the area of C-1/C-5/C-6, and C-3/C-4 which is a direct continuation of Big Daddy and Black Thor chromite trend.

I read today's trading was not really for profit taking. Simply they jumped on upon news release in a hope to press sp down and kill the momentum. I could be wrong, but this is what I read from today's trading transaction by transaction.