Why your junior dumps four months after every financing

Explorers don't sell anything, so they sell shares. Usually at a discount, usually with a warrant stapled on, which is a right to buy another share later at a fixed price.

In Canada, private placement shares are locked up for four months and a day. Mark that date. When it passes, the people who bought cheap can finally sell, and plenty do.

Also check the warrant pile. A big stack exercisable just above today's price acts like a ceiling: every rally meets holders cashing in. It's all in the filings on SEDAR+. Ten minutes of reading saves a lot of bag-holding.