Ann: Change in substantial holding, page-8

In case you wonder why Van Eck has almost a 20% share in RMS. I think there is a simple cause:

- RMS was included into the "MVIS Global Junior Gold Miners Index" last autumn.
- RMS has currently a weight of 0.97% in that index.
- Van Eck's GDXJ ETF (which is based on that index) has assets under management of about 5740 m USD (about 7500 m AUD).
- So, the GDXJ has to invest about 73 m AUD into RMS.
- On 23/02/2017 (the date of Van Eck's last "Substantial holding notice") RMS had a MC of about 368 m.
- 73m / 368m = 18.9 %. That's exactly the number Van Eck reported.

And my guess what happened this week with the RMS share price:
- It seems that Van Eck almost automatically and quickly buys and sells shares of the index components depending on the inflows and outflows of the GDXJ.
- I think that this week someone withdraw a really large amount of money from the GDXJ prior to the Trump speech in congress.
- So, all miners that are part of the index (RMS, SBM, BDR, SLR, ...) were battered, while others (e.g. DRM) kept up quite well.