There was also institutional fund sellingCould have been this too = reason for the pump
RE: TOREX GOLD RESOURCES INC. (the “Issuer”)
1. The name and address of the eligible institutional investor:
Name: Van Eck Associates Corporation (“
VEAC”)
Address: 335 Madison Avenue
19th Floor
New York, NY 10017
USA
VEAC is an investment manager as defined in National Instrument 62-103 by
virtue of being (a) registered to provide investment counseling, portfolio
management or similar advisory services in respect of securities under the
Investment Advisers Act of 1940 of the United States of America, as amended,
and (b) providing the advisory services referred to above for valuable
consideration under a contractual arrangement.
VEAC is relying on aggregation relief provided by Section 5.1 of Part 5 of
National Instrument 62-103 in respect of the securities disclosed. Disclosure is
being made by VEAC only and securities owned or controlled by other business
units or investment funds have not been, or may not have been, disclosed.
2. The net increase or decrease in the number or principal amount of securities,
and in the eligible institutional investor’s security holding percentage in the
class of securities, since the last report filed by the eligible institutional
investor under Part 4 of National Instrument 62-103 or the early warning
requirements:
As of September 30, 2014, the number of common shares of the Issuer under the
control or direction of VEAC has decreased by 2,436,180 from the 92,216,256
common shares previously reported and VEAC’s security holding percentage has
decreased by approximately 0.61% from the approximately 12.70% previously
reported.