The Financial Post reports in its Saturday edition over the past six weeks, Eric Sprott has been selling units in the Sprott Physical Gold Trust, a fund formed to hold physical gold. The Post's Barry Critchley, writing in Off the Record, says Mr. Sprott has made four separate sales since the end of September. In all, Mr. Sprott sold 375,000 units at prices ranging from $10 to $9.44 (all figures U.S.). Despite those four sales totalling $3.6-million in proceeds, Mr. Sprott still has almost $35-million left in the fund. According to the most recent filing on SEDI, he owns 3.49 million units. In its initial public offering, the fund raised $442.5-million. Since then it has been back to the market on six occasions and has raised almost $2-billion. About 18 months ago, Mr. Sprott sold more than $45-million of units in Sprott Physical Silver Trust. In a report, CIBC analyst Paul Holden said the money manager was "taking the right steps but resources are acting as the ball and chain." In his report, Mr. Holden said while Sprott Inc. "continues to diversify, the prices of gold and silver remain major drivers for the business." Mr. Holden has a sector underperform rating and a $2.75 (Canadian) target.