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Frank Holmes has been quietly selling his Gran Colombia Gold ( shares

Gran Colombia Gold ( reported its 1q15 this afternoon and apart from the $3.38m net loss and the continuing disaster that is GCM's balance sheet...

...(and they seriously think that a few hundred thou saved on G&A makes a difference these days; Serafino, it's a freakin' rounding error dude), the interesting bit about today's 1q15 financials is to read how Frank Holmes's U.S. Global fund has been trying to get out of its outsized and utterly failed position in GCM. In the 4q14 report we read that U.S Global holds 12% of

But now in the 1q15 report we read that the position is down to 10%:

...which means somewhere since then U.S Global sold 2% of the company to some other sucker. That's around 460,000 shares. Rats and sinking ships.