Ann: Quarterly Activities and Cashflow Report , page-5

What surprises me the most is that they had so much time to find an additional financing after EIG agreement and they still don't have it.

So it makes me wonder if they will be able to finish this project at all.
Recently, Coal India was talking to Harper government about looking for coal in Canada. If they would sell the project to Coal India, this stock would be over 0.50 overnight.

If they hire somebody to keep investors informed on the current situation, maybe the SP wouldn't slide so much. For weeks there are no postings/updates on their web-page; so investors keep moving on.