Gold is struggling but major sub holder in PIR has distributed...

Gold is struggling but major sub holder in PIR has distributed shares in its fund, more likely the reason for weakness today (and over last week), line of support at 165c. The options conversion will also be more a factor for the next two months or so.

http://asx.com.au/asxpdf/20121116/pdf/42b7ynpmx0f43n.pdf

http://www.proactiveinvestors.com/companies/news/21282/papillon-resources-gets-vote-of-confidence-from-highland-park-sa-21282.html

http://beforeitsnews.com/financial-markets/2012/02/papillon-resources-substantial-shareholder-bumps-up-stake-to-7-76-1761227.html