Selling Pressure, page-5

The Norweigen Sovereign Wealth Fund (Norges Bank) is not shaking out anyone. They show up in the holder notices because they are on the 5% cusp but the actual volumes are not anywhere near enough to cause the recent falls.

The selling pressure is widespread among the mid-cap gold names (NST excluded). RRL, EVN and RSG all struggling. See video below where I discussed it.

I do wonder that SBM might be planning a deal of some sort soon given it seems to be under the most pressure. Takeovers are clearly in vogue again after a long hiatus from the mid-cap producers.