Seems that KL has been buying out Eric Sprott for the buybacks. Sprott is exiting all his KL shares. His loss. Hopefully somebody asks him this on his next Podcast. https://twitter.com/EconomicAlpha/status/1235006379921985537
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Thats a substantial amount of KL stock about 2.7 million shares total in Feb. but you say he is exiting all his stock .

If you click the filings tab above you will see a Mar 2 2020 filing for Eric Sprott which shows he owned 10,718,951 shares on that date . I don't know if that included the 2 million sold on Mar 2 that your report showed or if that was what he owned after that 2M sale but either way he still has a large KL investment.

Hopefully as you say he might mention or be asked about this on his next podcast. 
I doubt he plans a complete exit though and who knows maybe he plans to invest some in the new Wallbridge/Balmoral company and then later get back some more KL stock after KL does a takeover in a year or two. 

Also bear in mind although he likes being active in the gold stock realm he is also getting older and could be just gradually pulling back his exposure over time. He enjoys the challenge but doesn't really need the risk.

According to the ownership tab (from what date I don't know) the top 10 institutional owners own a combined total of approximately 70 million shares I don't think they are rushing to the exits.