One should always consider a P & D, but in this case it may be unlikely. More like news may be leaking for the buying, or simply someone taking a stronger interest. The sell side may also just be simple profit taking from previous lows (two weeks ago was in low 0.030's) which had similar volume. That would be a 30-50% profit for some.
I could be wrong, but I still think we may be 2-6weeks away from news. I just hope CNX are making a nuisance of themselves with daily calls along the lines of "Are we there yet? Are we there yet?"
CNX Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held