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Chesapeake Gold (CKG.v): Reader RW says it best

I was checking out this morning's NR from Chesapeake Gold (CKG.v) which announced (on PDAC Monday! Wow that's a lucky coincidence!) its "updated pre-feasibility study" results and and wondering all to my little self "Oh lordy lord, where do I start with this heap of dogshyte?" when all of a sudden reader and mailpal 'RW' pops into my mailbox with this (name removed to protect innocent and guilty alike):

Ah yeah, "Because optionality!", thanks RW, you saved me time and effort this fair and sunny Monday morning. I owe you a beer. 

As for CKG.v, the word most closely associated with this project is "never". A stock that could only ever appeal to the greenhorn or the hardcore mouthbreather end of the goldbug community. Or Rick Rule.

UPDATE: A reader writes:
"Hello Otto

"I drop in to your site from time to time and was greeted with your take (via another site reader) on CKG. I am disappointed on the IRR but had thought that at $1600.US+ Au the project was possible. I always trusted Randy Reifel and thought that he did a good job and was honest. Kept cash in the bank and a low float. Anyway I sold 1/3 of my position because I value your comments."

IKN back. My question is why did he only sell a third?