I don´t think that unloading and low SP have something to do with the feasibility study which is announced to be published end of November 2012.

If I added correct, following could be watched:

 

01.-30.09.2012:

Approx. 14.3 million shares changed owner and SP dropped from 0.77 to 0.71 CAD.

 

01.-31.10.2012:

Approx. 2.7 million shares changed owner and SP dropped from 0.73 to 0.58 CAD.

 

01.-14.11.2012:

Approx. 2.5 million shares changed owner and SP dropped from 0.56 to 0.47 CAD.

 

Means approx. 16.3 % of shares changed owner and SP was down nearly 39%.

Among a lot arguments, like stock market in general down, etc., it looks like some investors are not willing to wait until end 2015, when production is scheduled to start.

May be they need the cash now and come back later.

or

May be they lost confidence in management and the news we are getting, respectively not getting.

or, or, or, ...

Hopefully the market will find the bottom soon and coming news will have positive influence.

Anyway , I think CHM will give hard times to the longs.