So let's consider another possibility. Perhaps Pinetree is getting ready to exercise their 3,500,000 warrants at.35 just like SI did, to buttress their voting power before April 27th (record date for AGM) That would require $1,225,000 in funds, which we know Pinetree would be hard pressed to come up with, given their financial distress.
So if we assume the TMX daily markers are reasonably accurate and assign those numbers to Pinetree, their selling should have been finished today, assuming warrant exercise to raise funds was their original intent.
The math:
$1,225,000/1.60 (avg cost of shares sold last 3 days)
= ~765,000 shares to be sold
That matches more or less the share numbers over the last 3 days that showed up on the TMX daily markers.
Tomorrow will tell the tale.
