Buyers bought the rumor, sold the news, probably long term holders sold. From here on, I guesstimate the share price will gradually increase upward with intermittent sales to $8 to $10 during pre-development phase unless adverse news comes about. Once mining begins, then $40 to $50?
Simple. News doesn't make money. This should be the first thing every investor understands and always keeps in mind. GM&E is the same company it was before the news. They have the same operations, the same equipment, the same employees, the same revenues. Nothing has changed.
production schedule est 2017 until then most likely will need huge $$$ investment from global co. Let's face fact's global mining is on a consolidating path for a few years. Lot's of junior's will no longer exist in any mining expand, not saying it will happen here but it's huge$$$$$ to build. I think it's to early to expect this to skyrocket however anything can happen. Be a good one to keep an eye on down the road, expect money raising share purchase near term which will dilute.
Look at the history of VALE, how they progressed, New catalyst will be Danish Pension fund or Chinese involvement, secured credit, mine construction, production and much more. Europe Union will back this IMO. Will see. $5$ easy short term.