Wedging. Other gold producers are treading water too.
I think it comes from global sentiment, which altho Central Banks are winding back easy money the sentiment of future growth is generally uncertain...sometimes negative, ...all as a by-product of all this slim-growth came from easy money, but now it's expect to come from money tightening, people ask, is this possible?
Smart money is hedging with gold and other safe havens despite RBA's worldwide powering ahead continuing with forecasts (p13-Graph 1) that are just not happening. (Last 7 years in a row they've been incorrect)