From a reputable newsletter writer:
"The gold and resource funds are getting hit with redemptions, some pretty heavily, and I hear Franklin, Van Ecke, Dynamic, Sprott, Beaupost, US Global, etc., are selling what theycan, not what they want. Most are fully invested and have little flexibility when redemptions hit (unless they have shorts)"
I guess San Gold is one of the lucky ones to have most of those solid institutional backers.