I believe one of those Canadian Funds is Sprott Assett Management which has large positions all over the "exploration" world. It is my understanding that, as Jim said, they (and others) have made the decision to lighten up on the juniors and go with producers for now.

While it seems silly to sell off the juniors now at their low prices these funds know what they are facing and are buying their producers at equally low prices, a fair trade-off.

So they are getting it done now. When that action is over, the juniors will begin to act with the gold price once again.

P.